USDRUB 4 years of slow rising before the next stress event

FX_IDC:USDRUB   U.S. Dollar / Russian Ruble
The USDRUB pair is consolidating in recent weeks since the short-lived rebound on the June 27 (1W candle) low. The inability to break above either the 1W MA50 (blue trend-line) or the 1W MA200 ( orange trend-line) should keep the price action rather neutral for now. As you see the long-term bullish Channel that started after the July 2008 low, is still holding as the June Low was contained just above its Higher Lows trend-line.

After such a Low, the pair tends to start a Channel Up on a slow pace within the respective Fibonacci levels. This is a long-term accumulation phase before a major stress event rapidly sends the RUB depreciating against the USD.


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