Ruble Staging a Rally on Russia's Surprise Rate Cut Has Trend on Its Side
- Momentum studies look bullish and not in overbought territory
- Currency has chart support at key daily moving averages
Bank of Russia Lowers Key Rate in Surprise Move
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The ruble rallied after the Russian central bank cut its key rate, and technical patterns suggest the currency’s gains may find traction.
With trend and momentum studies such as the MACD looking bullish and far from oversold, charts point to an appreciation of the ruble beyond this year’s high toward levels not seen in two years.