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- USD/RUB Price Analysis: Pullback remains elusive beyond 82.85 support confluence
USD/RUB Price Analysis: Pullback remains elusive beyond 82.85 support confluence
- USD/RUB regains upside momentum after stepping back from record top before a few hours.
- March 2020 top, ascending trend line from November 2021 challenge bears.
- Bullish MACD keeps buyers hopeful, January 2016 peak guards immediate upside.
USD/RUB reverses the late Thursday’s pullback from an all-time high during Friday’s Asian session, picks up bids near 84.95 by the press time.
The quote marked a record top of 90.00 the previous day before closing around 84.34.
Even so, the bullish MACD signals and the pair’s ability to stay beyond convergence of March 2020 high and a three-month-old ascending trend line, near 82.85, keep USD/EUB bulls hopeful.
That said, the pair buyers presently eye tops marked in early 2016, around 86.00, before challenging the latest peak of 90.00.
It’s worth noting that the sustained run-up beyond 90.00 will direct USD/RUB buyers towards the 100.00 psychological magnet.
Alternatively, a downside break of 82.85 will direct the quote towards a one-week-long support line near 79.90, wherein the last month’s high near 80.40 may act as an intermediate halt.
USD/RUB: Daily chart
Trend: Bullish
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