USD/RUB 1H Chart: Falling wedge in sight
The Russian Ruble has been appreciating against the US Dollar after the currency pair reversed from the resistance level formed by the monthly PP at 67.17. This movement has been bounded in a falling wedge.
As apparent on the chart, a breakout from the pattern should occur in the nearest future. From a theoretical point of view, the exchange rate should break given wedge north and surge towards the 66.40/66.80 range.
However, technical indicators suggest that expected advance might not be immediate, and the pair could decline to the psychological level at 65.20.
As apparent on the chart, a breakout from the pattern should occur in the nearest future. From a theoretical point of view, the exchange rate should break given wedge north and surge towards the 66.40/66.80 range.
However, technical indicators suggest that expected advance might not be immediate, and the pair could decline to the psychological level at 65.20.