USD/RUB Price Analysis: Bulls attack weekly resistance near 136.00 with eyes on record top

USD/RUB consolidates the previous day’s losses, seesaw around intraday high of late.
Successful trading above the key moving averages keeps buyers hopeful.
Four-day-old horizontal area adds to the upside filter, 122.50 acts as nearby support ahead of 50-SMA.

Anil Panchal FXStreet

USD/RUB bulls retake controls following the previous day’s downbeat performance, up 0.30% near 134.60 during Friday’s Asian session.

In doing so, the Russia ruble (RUB) pair battles with the on-week-long descending resistance line.

Given the quote’s recent positive performance, mainly due to the Russia-Ukraine crisis, coupled with the sustained trading above 200-SMA and 50-SMA, USD/RUB buyers are likely to overcome the immediate 135.90 hurdle.

However, a horizontal area around 147.75-80, including tops marked during Monday and Wednesday, acts as a tough nut to crack before allowing the bulls to challenge the all-time high of 164.65.

Alternatively, an ascending support line from March 02, near 122.50 restricts the USD/RUB pair’s immediate downside ahead of the 50-SMA level of 121.75.

In a case where USD/RUB prices drop below 121.75, the pullback may not hesitate to test the 200-SMA level surrounding 89.00.

That said, the 10.00 threshold may offer an intermediate halt during the fall between 50-SMA and 200-SMA.

USD/RUB: Four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	134.5
Today Daily Change	1.0000
Today Daily Change %	0.75%
Today daily open	133.5

Trends
Daily SMA20	97.7722
Daily SMA50	84.898
Daily SMA100	78.9443
Daily SMA200	75.9949

Levels
Previous Daily High	140
Previous Daily Low	116.038
Previous Weekly High	124
Previous Weekly Low	83.53
Previous Monthly High	114
Previous Monthly Low	74.254
Daily Fibonacci 38.2%	125.1915
Daily Fibonacci 61.8%	130.8465
Daily Pivot Point S1	119.692
Daily Pivot Point S2	105.884
Daily Pivot Point S3	95.73
Daily Pivot Point R1	143.654
Daily Pivot Point R2	153.808
Daily Pivot Point R3	167.616

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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