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USD/RUB- Technical Analysis shows strength for upside move

The USD/RUB pair is trading above its upward trend line on a 4 hour time frame. This confirms that the trend is towards the upside. In order to get a clear confirmation of the trend, it is best to use the moving averages and the chart shows that the price is trading above the 100 and 50 day moving averages shown in red and yellow color respectively. Moreover, the 50day has also crossed the 100 day moving average from below, which shows another bullish signal for the price.

The MACD- the momentum indicator is showing signs of deflection which means that while the recent price action is forming lower highs, a similar pattern is not confirmed by the MACD.

USDRUB 15-06-2015

Important Zones

52.34-51.70 Support

56.76-56.34 Resistance

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