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

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

USD/JPY drops toward 142.00 ahead of BoJ policy decision

USD/JPY drops toward 142.00 ahead of BoJ policy decision

USD/JPY has turned south, approaching 142.00 in the Asian session on Friday. Markets turn risk-averse and flock to the safety in the Japanese Yen while the Fed-BoJ policy divergence and hot Japan's CPI data also support the Yen ahead of the BoJ policy verdict. 

USD/JPY News
AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD attacks 0.6800 in Friday's Asian trading, extending its gradual retreat after the PBOC unexpectedly left mortgage lending rates unchanged in September. A cautious market mood also adds to the weight on the Aussie. Fedspeak eyed. 

AUD/USD News
Gold price treads water below record peak, awaits Fedspeak

Gold price treads water below record peak, awaits Fedspeak

Gold price hovers below the all-time peak touched earlier this week amid a bearish US Dollar and rising bets for more upcoming rate cuts by the Fed. Concerns over an economic downturn in China keep the safe-haven Gold price afloat. Fedspeak remains on tap. 

Gold News
Bank of Japan set to keep rates on hold after July’s hike shocked markets

Bank of Japan set to keep rates on hold after July’s hike shocked markets

The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session. 

Read more
XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

Ripple (XRP) gained 2.3% since the start of the week. The altcoin’s gains are likely powered by key market movers that include Ripple USD (RUSD) stablecoin, Grayscale XRP Trust performance and the demand for the altcoin among institutional investors.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Forex MAJORS

Cryptocurrencies

Signatures