Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Buy | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Neutral | Neutral | Neutral |
Alligator (13; 8; 5) | Neutral | Buy | Buy |
SAR (0.02; 0.2) | Sell | Buy | Buy |
Aggregate | ⇒ | ⇗ | ⇗ |
The USD/RUB currency pair is trading in an ascending triangle formed early in April. The Greenback tested its bottom boundary two weeks ago. The rate subsequently failed to reach the other pattern line prior to reversing back to the downside this week.
Currently, the rate is being supported by the 55–, 100– and 200-period SMAs on both the 1H and 4H time-frames. It is expected that the rate eventually gathers the necessary momentum to breach this support cluster at 62.60 and continue trading in line with the triangle pattern. Its lower boundary is located circa 62.00.
It should also be taken into account that this barrier may pressure the Greenback higher for a brief period of time, especially if the upper triangle line at 64.00 was not reached. If it does find support at 62.60, the rate should aim for the 64.00 level, reinforced by the monthly R1, before edging back lower and fulfilling the bearish scenario.