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Despite the regular intermissions between the trading sessions, USD/RUB has managed to form a high-quality rising wedge pattern, meaning the currency pair is on the verge of a sharp decline in the nearest future. Another argument in favour of the strong sell-off from here is current rate's proximity to the highs seen early September.
Accordingly, we should not expect a rebound from the support at 33.22, even though it consists of the weekly R1 and the rising trend-line. Instead the U.S. Dollar is more likely to breach this demand area and rush towards the 200-period SMA at 32.94, while the ultimate goal will then be 32.48—Dec 27 low.
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