USD/RUB 1H Chart: Short-term decline expected - Trade Pattern Ideas - Dukascopy Bank

Mon, 04 Nov 2019 11:36:56 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

The US Dollar has been depreciating against the Russian Ruble since the beginning of October. This movement has been bounded in the medium-term descending channel.

Note that the USD/RUB currency pair is pressured by the 55-, 100- and 200-hour moving averages, currently located circa 63.90. Thus, some downside potential could prevail in the market in the nearest future.

However, note that the exchange rate could gain support of the Fibonacci 50.00% retracement at 63.08. If the given support holds, a reversal north could occur. Otherwise, the rate could drop lower than the psychological level at 62.00.


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