Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 65.08. Moving averages indicate an uptrend. Quotes of the pair also repelled from the area of moving averages, which indicates the pressure from buyers. As part of the forecast for the USD/RUB exchange rate for tomorrow, June 7, 2019, we should expect an attempt to reduce and test the support level near 64.75 Rubles for the US Dollar. Then, the rebound and the continued growth of the currency pair in the region above the level of 66.25.
USD/RUB Forecast Russian Ruble June 7, 2019
A test of the support line on the relative strength index (RSI) will be in favor of the USD/RUB rise on June 7, 2019. The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the option of raising the USD/RUB pair on FOREX will be a fall and a breakdown of the level of 63.95 Rubles per Dollar. This will indicate a breakdown of the support area and a continued decline of the Dollar/Ruble pair to an area below the level of 62.65. Confirmation of the growth of the pair will be the breakdown of the upper boundary of the «Triangle» model and the closure above 65.75.
USD/RUB Forecast Russian Ruble June 7, 2019 implies an attempt to test the support level near the 64.75 area. Where can we expect a rebound and the continued growth of the dollar against the ruble with a goal above 66.25. An additional signal in favor of raising the pair will be the test of the support line on the relative strength index (RSI). Cancellation of the growth option will be the breakdown of the support area and closing of quotations below the level of 63.95. In this case, we should expect the continuation of the fall below the level of 62.65.
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