06.04.2020
The ruble is supported by the sharp recovery in crude oil prices last week in anticipation of the new round of negotiations between the US, Russia and Saudi Arabia on pricing policy and crude oil production volumes. Another positive factor is the continuing demand for federal loan bonds from non-residents and the growing interest in the shares of Russian companies. The first indicators of the decline of the coronavirus pandemic in Europe and the USA are also a plus, although at the moment it’s too early to talk about a definite end.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and gradually decreases. Stoch are in the oversold zone.
Trading recommendations:
Sell the pair after it consolidates below 76.75 with a likely decrease to 75.00.
The USDRUB rate online: monitor the movement of the pair the real time.
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