USD/RUB Price Analysis: Prints a YTD high at 117.68 though RSI’s negative divergence in the H1 chart looms


  • The ruble depreciated 44% in the last two days, weighed by the  Russia – Ukraine conflict.
  • On Tuesday, the USD/RUB prints a YTD high at 118.09.
  • USD/RUB Technical Outlook: It is upward biased, though a negative divergence in the 1-hour chart looms, spurring an opportunity to dip buyers.

The USD/RUB skyrockets for the second straight day, as geopolitical tensions between Russia and Ukraine do not subside, while the USD/RUB reached a YTD high at 118.09. At the time of writing, the USD/RUB is trading at 117.75.

From a technical perspective, it is easy to spot that the USD/RUB is upward biased. The daily moving averages are below the 78.00 mark, and the USD/RUB sits above February 28 daily high at 111.67.

Therefore, it is suggested to approach USD/RUB price action from the 1-hour chart due to the strong uptrend and volatility of the markets. Caution is warranted.

USD/RUB Price Forecast: Technical outlook

USD/RUB 1-hour chart shows that the USD/RUB depreciated 32% in the day on Monday. However, the pair traded in the 96.00-112.08 range, for some time, before breaking upwards, reaching a high at 116.76. However, the Relative Strength Index (RSI) is at overbought levels at 74.82, aiming higher. Therefore, if the USD/RUB stabilizes around the 112.08-116.76 range, it could print a new lower high that could portray a negative divergence between price action and the RSI. Such a divergence could spur a move downwards.

If that event plays out, USD/RUB first support would be 108.49. Breach of the latter would expose a downslope trendline, which passes around 105.00, followed by the confluence of the 50-hour simple moving average (SMA) and March 1 daily low at 96.78.

USD/RUB

Overview
Today last price 116.3335
Today Daily Change 8.4867
Today Daily Change % 7.87
Today daily open 107.8468
 
Trends
Daily SMA20 79.0309
Daily SMA50 77.1051
Daily SMA100 74.8476
Daily SMA200 74.0293
 
Levels
Previous Daily High 114
Previous Daily Low 83.53
Previous Weekly High 89.9879
Previous Weekly Low 76.15
Previous Monthly High 114
Previous Monthly Low 74.254
Daily Fibonacci 38.2% 102.3605
Daily Fibonacci 61.8% 95.1695
Daily Pivot Point S1 89.5845
Daily Pivot Point S2 71.3223
Daily Pivot Point S3 59.1145
Daily Pivot Point R1 120.0545
Daily Pivot Point R2 132.2623
Daily Pivot Point R3 150.5245

 

 

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