Since October, the EUR/RUB exchange rate has been trading within a descending channel.
From a theoretical perspective, it is likely that the currency pair could continue to follow the predetermined trend in the medium term. In this case the pair could reach the Fibo 23.60% at 85.94 by the beginning of March.
Meanwhile, note that the exchange rate is pressured by the 55-, 100– and 200-period moving averages in the 90.30/90.70 range. Thus, a breakout south could occur.
