Axel Rudoph, Senior Analyst at Commerzbank, believes the pair is poised to extend the consolidation theme in the near future. Key Quotes “USD/RUB continues to oscillate around the 55 day moving average at 62.60 but is still is expected to come further off the 64.21 June high”. “We still believe that several weeks of range trading below the 64.21/28 area but above the 60.58/51 November high and mid-April low are to be seen in the near future. We therefore retain our neutral view with a slight short-term bearish bias”. “Should we be proved to be wrong and were a rise and daily chart close above the 64.21/28 area to be seen, the April high at 65.04 would be back in the picture. Above it sit the May, July and November 2016 highs at 66.49/67.69″. “Minor support sits at the May low at 60.95. More important support comes in at the 60.58/51 November high and midApril low. While this support zone underpins, we will retain our longer-term still bullish forecast”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Retail sales likely to post a gain of 0.5% in June – Nomura FX Street 5 years Axel Rudoph, Senior Analyst at Commerzbank, believes the pair is poised to extend the consolidation theme in the near future. Key Quotes "USD/RUB continues to oscillate around the 55 day moving average at 62.60 but is still is expected to come further off the 64.21 June high". "We still believe that several weeks of range trading below the 64.21/28 area but above the 60.58/51 November high and mid-April low are to be seen in the near future. We therefore retain our neutral view with a slight short-term bearish bias". "Should we be proved to be wrong and were a rise… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
