MACRO VIEW: USDRUB HOLDS UPTREND TEST DESPITE OIL
USDRUB held uptrend test on 1-year and quarterly basis (bounced back from 1st standard deviations from 1-year (264 days) and quarterly (66 days) means).
What is strange, Russian Ruble continues to fall despite downtrend in WTI oil has failed recently. (see related)
If price continues to trend upwards (above 66) - likely target is 80, a level outlined by Russian Central Bank today as the price at which it will raise interest rates again.
Failure of USDRUB uptrend will be confirmed only when price tags quarterly mean (at 60 now)
What is strange, Russian Ruble continues to fall despite downtrend in WTI oil has failed recently. (see related)
If price continues to trend upwards (above 66) - likely target is 80, a level outlined by Russian Central Bank today as the price at which it will raise interest rates again.
Failure of USDRUB uptrend will be confirmed only when price tags quarterly mean (at 60 now)
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