USD/RUB 1H Chart: Some upside potential could prevail

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralSellNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

The Dollar has been appreciating against the Russian Ruble since middle of January after the USD/RUB exchange rate failed to surpass the Fibonacci 61.80% retracement at 61.31.  

As apparent on the chart, the currency pair exceeded the Fibonacci 50.00% retracement at 63.08. Note that the pair is supported by the 100– and 200-hour SMAs, thus, some upside potential could prevail in the market. A possible upside target is the Fibonacci 38.20% retracement at 64.86. 

However, if the exchange rate fails to surpass the psychological level at 64.00, it is likely that a reversal south could occur. In this case the rate could re-test the Fibo 61.80%.

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