USD/RUB 4H Chart: Channel Down

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Source: Dukascopy Bank SA
The Greenback is losing ground against the Russian Ruble also due to the reason that the Ruble is continuing its recovery from the events, which occurred around New Year's Eve of 2015/2016. The currency exchange rate is fluctuating simultaneously in two descending channel patterns. However, clues indicate that the situation is about to change. The reason for that is the fact that the junior descending pattern has already reached and bounced off from the lower trend line of the dominant channel. Due to that it can be assumed that the minor channel's resistance will be broken and a new medium term pattern will reveal itself.
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