EUR/RUB has the 91.00 level in its crosshairs – SocGen
|The Russian rouble stabilises this morning after sliding nearly 3% in two days against the dollar and the euro. Economists at Société Générale expect the pair EUR/RUB to surge above the 90.00 level towards 91.00.
EUR/RUB to extend its phase of rebound towards 91.00
“EUR/RUB has crossed above an ascending channel which denotes upward momentum is regaining.”
“Holding above the MA near 86.00/85.70, the bounce could persist towards projections of 91.00 which is also the trend line connecting peaks of November 2020 and April 2021.”
“First support is located at 87.70, the 23.6% retracement from October.”
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