USD/RUB 1H Chart: Downside potential could prevail - Trade Pattern Ideas - Dukascopy Bank

Wed, 03 Jun 2020 11:40:50 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)BuyBuyNeutral
Stochastic(5;3;3)BuyBuyBuy
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate

The US Dollar continued to depreciate against the Russian Ruble. The USD/RUB currency pair has already surpassed the 70.00 level.  

Note that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages in the 69.50/71.50 area. Thus, some downside potential could continue to prevail in the market, and the rate could target the monthly S3 at 62.40. 

Meanwhile, note that the currency pair could gain support from the monthly S1 at 68.22. If the given level holds, it is likely that a reversal north could occur. In this case it is unlikely that the pair could exceed the 2020 high at 81.96.


Back to feed
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.