USDRUB: Break beyond 65 is essential to affirm an extended up-move – SocGen
|USDRUB has unfolded an elongated consolidation. Economists at Société Générale expect the pair to stage an up move on a break past 65.
Near term support aligns at the 56 mark
“The USDRUB pair appears to be evolving within an ascending triangle which consists of a rising lower band and a horizontal upper limit. The pattern points towards the upside, however, a break beyond the upper band near 65 is essential to affirm an extended up-move.”
“September low of 56 is near term support.”
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