USD/RUB Price Analysis: Eyes further losses on break of five-week-old support

USD/RUB consolidates recent losses around weekly low, remains below the key support trend line.
Bearish MACD, trend line break directs bears towards 50-DMA.
21-DMA, 61.8% Fibonacci retracement level restrict recovery moves.

Anil Panchal FXStreet

USD/RUB consolidates weekly losses around 98.25, up 1.55% intraday during Thursday’s Asian session.

The Russian ruble pair dropped to the lowest in one week after breaking an ascending trend line from mid-February.

As the trend line breakdown joins bearish MACD signals, the USD/RUB prices are likely to fade the latest corrective pullback.

Hence, the 50-DMA surrounding 91.40 and the 90.00 threshold gain the seller’s attention ahead of the last monthly bottom near 75.00.

Alternatively, further recovery needs to cross the previous support line, close to 102.15 at the latest, to convince buyers.

Even so, 61.8% Fibonacci retracement level of February-march upside, around 105.00, will precede the 21-DMA figures close to 111.25 to challenge the USD/RUB bulls.

USD/RUB: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	98.25
Today Daily Change	1.5000
Today Daily Change %	1.55%
Today daily open	96.75

Trends
Daily SMA20	111.8751
Daily SMA50	90.9471
Daily SMA100	82.3806
Daily SMA200	77.6403

Levels
Previous Daily High	107
Previous Daily Low	96.75
Previous Weekly High	133.005
Previous Weekly Low	95.9999
Previous Monthly High	114
Previous Monthly Low	74.254
Daily Fibonacci 38.2%	100.6655
Daily Fibonacci 61.8%	103.0845
Daily Pivot Point S1	93.3333
Daily Pivot Point S2	89.9167
Daily Pivot Point S3	83.0833
Daily Pivot Point R1	103.5833
Daily Pivot Point R2	110.4167
Daily Pivot Point R3	113.8333

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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