USD/RUB 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
As recently the US Dollar began a surge against the Russian Ruble in the aftermath of reaching the medium term descending channel pattern's lower trend line, a need for reexamination of the currency exchange rate arises. It seems that the rate rebounded in a short term ascending channel pattern. However, most recently the currency pair reached the upper trend line of the medium size pattern and already failed to break through the resistance put up by it. It is possible that in during the rest of the Monday's trading the rate will bounce between two trend lines of both patterns until the pair will finally break out to the downside and continue to decline in accordance with the medium pattern.
© Dukascopy Bank SA
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Mon, 28 Nov 2016 13:10:03 GMT

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