Currency pair US Dollar to Russian Ruble USD/RUB ends the trading week near the level of 71.39 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 27 — 31, 2020 we should expect an attempt to develop growth and a test of the resistance area near the level of 73.15. Where can we expect a rebound and a continuation of the fall in the dollar rate against the Russian Ruble below the level of 63.55.
USD/RUB Forecast and Analysis July 27 — 31, 2020
An additional signal in favor of reducing the dollar/ruble pair will be a rebound from the resistance area. The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to drop the Dollar/Ruble pair will be a strong growth and a breakdown of the 77.25 area. 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 80.35. It is worth waiting for confirmation of a fall in the pair with the breakdown of the support area and the closing of the USD/RUB quotes below 66.75, which will indicate a breakdown of the lower border of the ascending channel.
USD/RUB Forecast and Analysis July 27 — 31, 2020 implies an attempt to test the resistance area near the level of 73.15. Where can we expect an attempt to drop the price and the Dollar rate to an area below the level of 63.55. An additional signal in favor of this option will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option to drop the dollar rate in the current trading week will be a strong growth and a breakdown of the 77.25 area. This will indicate a continued rise in the pair with a target at 80.35.
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