26.05.2020
The pair is still trading below the strong resistance level of 72.50. It’s under pressure because of the renewed demand for risk assets as countries continue to ease restrictions, as well as the rising crude oil prices. Another positive factor for the ruble are currency sales by the Central Bank in accordance with a fiscal rule: the bank sells the currency when the oil price is below $40 per barrel.
Technical side:
The price is below the middle Bollinger band, below SMA 5, but still above SMA 14. RSI is below the 50% level and moves horizontally. Stoch are above the 50% level and turn downwards.
Trading recommendations:
Sell the pair after it crosses 71.20 with a probable fall to 70.00.
The USDRUB rate online: monitor the movement of the pair in real time.
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