EUR/RUB may rise to 103.820 - 107.940

Our pivot point stands at 88.480.

Our preference

Rebound.

Alternative scenario

The downside breakout of 88.480 would call for 81.700 and 77.660.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (94.035) but under its 50 period moving average (96.322).

Supports and resistances

116.170 **

112.060 *

107.940 **

103.820

95.184 last

91.150

88.480 **

81.700 *

77.660 **

Number of asterisks represents the strength of support and resistance levels.