Russian Ruble: Potential Reversal Ahead?
Good day,
Russian ruble has pulled from the 72.70 supporting level. The asset might soon face resistance at the 76.00 level. We feel that Russian ruble should drop and test the broken downtrend. It may also break the 76.00 level so, let’s wait and see what could happen next to the resistance area.
Based on the reports by COT CFTC, both large operators and hedgers are currently holding almost the same number of positions. The actual difference between long and short positions is almost zero. In principle, this could signify that the 76.00 level might either offer significant resistance or get broken by the prices.
Gold got back to the broken downtrend, trying to drop. The asset might also break this downtrend and jump up, targeting the 1965.00 resistance level. So, let’s wait and see what is about to happen to asset’s price next although we feel that gold has the potential to drop.
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