• USD/RUB fades bounce off fortnight low, snaps four-day downtrend.
  • MACD flashes record bearish signal on D1, 124.20-25 appears tough nut to crack for buyers.
  • One-month-old ascending trend line adds to the downside filters.

USD/RUB bulls struggle to keep reins around 109.50, despite printing the first daily gains in five during Wednesday’s Asian session.

The Russian ruble (RUB) pair dropped to the lowest levels since March 04 the previous day before taking a U-turn from the 20-DMA.

The rebound, however, fails to gain support from the MACD as it prints the biggest bearish signal in the last few weeks.

Also challenging the USD/RUB buyers is a convergence of the 10-DMA and a one-week-old resistance line, around 124.20-25.

If at all the pair rises past 124.25, it can quickly rise to 140.00 before challenging the record top, also the monthly peak, surrounding 155.00.

On the contrary, a daily closing below 20-DMA level of 106.10 will direct the USD/RUB prices towards an ascending support line from mid-February, near 96.00 at the latest. It's worth noting that the 100.00 threshold will act as an intermediate halt during the fall.

In a case where USD/RUB breaks the aforementioned support line, the odds of witnessing a fresh monthly low, currently around 89.40, can’t be ruled out.

USD/RUB: Daily chart

Trend: Bearish

Additional important levels

Overview
Today last price 109.5
Today Daily Change 3.0000
Today Daily Change % 2.82%
Today daily open 106.5
 
Trends
Daily SMA20 104.3903
Daily SMA50 87.6328
Daily SMA100 80.4623
Daily SMA200 76.7125
 
Levels
Previous Daily High 122.0001
Previous Daily Low 104
Previous Weekly High 155.0001
Previous Weekly Low 106.5
Previous Monthly High 114
Previous Monthly Low 74.254
Daily Fibonacci 38.2% 110.876
Daily Fibonacci 61.8% 115.1241
Daily Pivot Point S1 99.6666
Daily Pivot Point S2 92.8333
Daily Pivot Point S3 81.6665
Daily Pivot Point R1 117.6667
Daily Pivot Point R2 128.8335
Daily Pivot Point R3 135.6668

 

 

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