USDRUB Sell opportunity at the top of the Channel Down.

The USDUB pair is on the 2nd straight red candle following yesterday's strong rejection near the top (Lower Highs trend-line) of the 1-year Channel Down. At the same time, the 1D RSI almost broke above the overbought barrier (70.00), a level last visited on April 16 2024.

As a result, we believe that this is the start of the new Bearish Leg of the pattern. Our target is 81.200, representing a -13.49% decline (similar to the previous ones).

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