USDRUB: Break beyond 65 is essential to affirm an extended up-move – SocGen

USDRUB has unfolded an elongated consolidation. Economists at Société Générale expect the pair to stage an up move on a break past 65.

Near term support aligns at the 56 mark

“The USDRUB pair appears to be evolving within an ascending triangle which consists of a rising lower band and a horizontal upper limit. The pattern points towards the upside, however, a break beyond the upper band near 65 is essential to affirm an extended up-move.”

“September low of 56 is near term support.”