EUR/RUB 1H Chart: Potential upside momentum

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The EUR/RUB currency pair has been testing the lower boundary of the long-term ascending channel since the beginning of November.  

Technical indicators suggest that the exchange rate is in the oversold territory, thus, it is likely that the pair goes upwards in the nearest future. From a theoretical point of view, it is also expected that a reversal north occurs in the nearest future. Important resistance level to look out for is the Fibonacci 23.605 retracement at 76.70. 

It is unlikely that the currency pair breaches given channel south and reaches the Fibonacci 38.20% retracement at 73.49.

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