Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 64.45 Rubles per US Dollar. The pair continues to move within the correction and the downward channel. Moving averages indicate a bearish trend. However, prices broke through the area between the signal lines up, which indicates a pressure from buyers of the US Dollar. In the current trading week February 24 — 28, 2020, we should expect an attempt to develop growth and test the resistance area near the level of 64.95. Where should we expect a rebound and the continuation of the fall of the Dollar below the level of 58.55.
USD/RUB Forecast and Analysis February 24 — 28, 2020
An additional signal in favor of reducing the pair Dollar/Ruble will be a rebound from the upper border of the downward channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option of falling the pair Dollar/Ruble will be a strong growth and a breakdown of the area of 66.45. This will indicate a breakdown of the resistance level and continued growth of the US Dollar against the Russian Ruble with a target above the level of 70.35. Expect confirmation of a fall in the pair is with the breakdown of the support area and closing of the USD/RUB quotes below the level of 61.55.
USD/RUB Forecast and Analysis February 24 — 28, 2020 implies an attempt to test the resistance area near the level of 64.95. Where should we expect an attempt to drop the Dollar in the area below the level of 58.55. An additional signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option of depreciating the Dollar in the current trading week will be a strong growth and a breakdown of the area of 66.45. What will indicate the continuation of the rise of the pair with the target at the level of 70.35.
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