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CURRENCY ANALYSIS

USD/RUB – Long term

USD/RUB accelerated higher in late 2014 following the clearance of the key 36.35-36.78 resistance area. An initial surge to 78.39 was followed by a correction lower to 48.79 in early 2015, ahead of a further advance which reached as far as 85.29 in January.  Another setback is now under way, this is classed as corrective with scope for a higher low to now develop above the October 2015 one at 60.73, ideally by 66.08-66.73, ahead of the start of a further advance towards the 93.62 measured move target (100% of the 2014 advance measured from the 2015 higher low).  To weaken the long-term outlook, we will need to see a reversal under the October 2015 higher low at 60.73, in which case a return towards 53.71-55.74 could commence. 

USD/RUB MONTHLY CANDLESTICK CHART

currency analysis long term EUR JPY

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