Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 70.74 Rubles per US Dollar. The pair continues to move in the framework of growth and the ascending channel. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines, which indicates pressure from buyers of the US dollar. In the current trading week, July 13 — 17, 2020, we should expect an attempt to develop a fall and test the support area near the level of 68.05. Where can we expect a rebound and continued growth of the Dollar against the Russian Ruble above the level of 79.65.
USD/RUB Forecast and Analysis July 13 — 17, 2020
An additional signal in favor of the rise of the Dollar/Ruble pair will be a rebound from the support area. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option for the pair Dollar/Ruble will be a fall and a breakdown of the area of 64.25. This will indicate a breakdown of the support level and a continued decline in the US Dollar against the Russian Ruble with a target below 60.55. Expect confirmation of growth for the pair is with the breakdown of the resistance area and the closing of the USD/RUB quotes above the level of 73.55.
USD/RUB Forecast and Analysis July 13 — 17, 2020 implies an attempt to test the support area near the level of 68.05. Where should we expect an attempt to raise the price and the rate of the Dollar in the region above the level of 79.65. An additional signal in favor of this option will be a rebound from the support line on the relative strength index (RSI). The cancellation of the growth rate of the Dollar in the current trading week will be a fall and a breakdown of the area of 64.25. Which will indicate a continued fall of the pair with a target at 60.55.
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