Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 70.51 Rubles per US Dollar. The pair continues to move within the correction and the upward 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 June 1 — 5, 2020 we should expect an attempt to develop a fall and test the support area near the level of 70.05. Where can we expect a rebound and continued growth of the Dollar against the Russian Ruble above the level of 80.45.
USD/RUB Forecast and Analysis June 1 — 5, 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 66.55. This will indicate a breakdown of the support level and a continued fall of the US Dollar against the Russian Ruble with a target below the level of 62.25. 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 73.65, which will indicate a breakdown of the upper boundary of the «Wedge» model.
USD/RUB Forecast and Analysis June 1 — 5, 2020 implies an attempt to test the support area near the level of 70.05. Where can we expect an attempt to raise the price and the rate of the Dollar in the region above the level of 80.45. 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 area of 66.55. Which will indicate a continued fall of the pair with the target at 62.25.
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