USDRUB sideway consolidation

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The USDRUB pair continues its consolidation in the range between 90,000 and 100,000. We are literally sitting on the MA200 moving average and looking to see if we will see a break below or a bullish momentum that would launch this pair above 110,000. Even moving averages collect around 100,000 levels. We need positive consolidation above 105,000 and above moving averages for the bullish option. This would certainly boost bullish optimism and give an incentive to continue towards the previous high. Otherwise, we need a negative consolidation for the bearish option that will break below MA200 and lower us to a zone of around 90,000. After that, we can expect increased bearish pressure and a further weakening of the dollar against the Russian ruble.

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