USD/RUB 4H Chart: Channel Up
The US Dollar is gaining ground against the Russian Ruble in an ascending channel pattern. However, it can be observed that the currency exchange rate is approaching the upper trend line of a long term descending channel. Most likely the currency pair will be pushed into the trend line by the support of the 55 and 100-period simple moving averages. Both of the moving levels of significance were located just below the 60.00 mark. If nothing changes fundamentally a new short term ascending pattern will soon reveal itself, and the markets will see the USD/RUB pair reach above the 61.00 mark.
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