The US Dollar has started to gain strength against the Russian Ruble after reaching an historical low level at 55.58.
The pair has formed a new medium-term channel, and the price is gradually moving north to test the upper boundary in combination with the monthly pivot point at the 56.64 mark.
In regards to the near future, analysts expect that the pair is likely to continue its rally until it breach the upper boundary of the medium-term channel. If and when its occurs, the pair might find resistance at the monthly R1 at 57.41.
