Currency pair US Dollar to Russian Ruble USD/RUB ends the trading week near the level of 71.80 rubles per US Dollar. The pair continues to move within the framework of the growth and the ascending channel. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines, which indicates pressure from US dollar buyers. In the current trading week July 20 — 24, 2020 we should expect an attempt to develop a fall and a test of the support area near the level of 67.75. Where can we expect a rebound and continued growth in the dollar rate against the Russian Ruble above the level of 79.65.
USD/RUB Forecast and Analysis July 20 — 24, 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 border of the ascending channel. Cancellation of the growth option for the Dollar/Ruble pair will be a fall and a breakdown of the 64.05 area. This will indicate a breakdown of the support level and a continued fall in the US Dollar against the Russian Ruble with a target below 60.35. It is worth waiting for confirmation of growth for the pair with the breakdown of the resistance area and closing of the USD/RUB quotes above the level of 73.95, which will indicate a breakdown of the upper border of the descending channel.
USD/RUB Forecast and Analysis July 20 — 24, 2020 implies an attempt to test the support area near the level of 67.75. Where can we expect an attempt to raise the price and the Dollar rate to the area 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). Cancellation of the growth option for the Dollar in the current trading week will be a fall and a breakdown of the 64.05 area. This will indicate the continued fall of the pair with a target at the level of 60.35.
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