MACRO VIEW: USDRUB UPDATE: INTO THE LATERAL RANGE
USDRUB has finally managed to end its upward trend, started the begining of June 2015
The price level has shifted - before uptrend USDRUB was trading about 55, now it is trading north of 60.
The end of the uptrend was marked by the price falling below quarterly mean and within 1st standard deviation from 1-year mean.
Thus currently the pair is range-bound, with the range borders are as marked on the chart. For further developments one should closely monitor WTI Oil (related idea), as the Ruble is closely correlated to it.
The price level has shifted - before uptrend USDRUB was trading about 55, now it is trading north of 60.
The end of the uptrend was marked by the price falling below quarterly mean and within 1st standard deviation from 1-year mean.
Thus currently the pair is range-bound, with the range borders are as marked on the chart. For further developments one should closely monitor WTI Oil (related idea), as the Ruble is closely correlated to it.
