The USD/RUB is set for a rebound, as it recently established a double bottom pattern. The pair has already shown some signs of recovery, with the question now being whether the exchange rate can climb over the neckline, which is bolstered by the 20 and the 200-hour SMAs, as well as the daily R1. Unless the Buck fails to appreciate, the pair could well head for a triple bottom, even though those are quite rare. However, according to technical indicators the triple bottom has a solid chance to emerge, but we remain in favour of the double one. Once the neckline is pierced, the Greenback could be seen recovering towards the 57.60 area, where the upper Bollinger band rests.
| Level | Rationale | Indicator | 1H | 4H | 1D | |||
| R4 | 57.83/87 | 55 and 100-hour SMAs; weekly PP | MACD (12; 26; 9) | Sell | Sell | Buy | ||
| R3 | 57.71 | Daily R3 | RSI (14) | Neutral | Neutral | Neutral | ||
| R2 | 57.53/60 | Daily R2; Bollinger band | Stochastic (5; 3; 3) | Sell | Buy | Sell | ||
| R1 | 57.26/30 | 20 and 200-hour SMAs; weekly R1; Bollinger band | ADX (14) | Sell | Sell | Neutral | ||
| S1 | 57.11 | Daily PP | CCI (14) | Neutral | Neutral | Neutral | ||
| S2 | 56.95/88 | Bollinger band; weekly and daily S1s | AROON (14) | Buy | Buy | Buy | ||
| S3 | 56.70 | Daily S2 | Alligator (13; 8; 5) | Sell | Sell | Buy | ||
| S4 | 56.47 | Daily S3 | SAR (0.02; 0.2) | Buy | Sell | Buy | ||
| Aggregate | ↘ | ↘ | ↗ |