Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 71.36 Rubles per US Dollar. The pair continues to move in the framework of growth and the rising 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 6 — 10, 2020 we should expect an attempt to develop a fall and test the support area near the level of 68.25. Where can we expect a rebound and continued growth of the Dollar to the Russian Ruble above the level of 79.05.
USD/RUB Forecast and Analysis July 6 — 10, 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 of the pair Dollar/Ruble will be a fall and a breakdown of the area of 66.05. 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 the level of 63.55. 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 71.15.
USD/RUB Forecast and Analysis July 6 — 10, 2020 implies an attempt to test the support area near the level of 68.25. Where should we expect an attempt to raise the price and the exchange rate of the Dollar to the region above the level of 79.05. 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 the fall and the breakdown of the area of 66.05. Which will indicate a continued fall of the pair with a target at 63.55.
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