USD Trading Outlook (20-08-2015)

Medium Term Strategy: Forex Pair of the day

USD/RUB – further advance
The pair remains on the upside as it remains supported by the moving averages. The rising daily RSI, supported by a rising trend line, adds pressure to the upside. Then, as long as 52.30 holds as a support, further advance is likely with 67.30 as a first target and 71.80 in extension (January top). A third target is set at 79.35 (December 2014 top). Alternatively, a break below 52.3 would call for another test of the 48.5 strong support base. A break below this threshold would lead to a drop towards the next support at 41.
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