EUR/RUB 1H Chart: Upside potential

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)BuyBuySell
Aggregate⇗⇒⇘

[ANNOUNCE] The EUR/RUB currency pair reached the lower boundary of the falling wedge pattern located circa 72.45. [/ANNOUNCE] 

As apparent on the chart, the pair has already reversed north from the given line. Currently, the exchange rate is testing the Fibonacci 38.20% retracement at 73.49. Given that the rate is being supported by the 55– and 100-hour SMAs, it is likely that some upside momentum prevails in the market. A possible upside target is the monthly R1 at 75.02. 

It is unlikely, that bears would prevail in the market, and a breakout south could occur within the following sessions.

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