Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 72.79 Rubles per US Dollar. The pair continues to move in the framework of strong growth. Moving averages indicate a bullish trend. Prices have gone far from the area between the signal lines, which indicates pressure from buyers of the US dollar. In the current trading week, March 16 — 20, 2020 we should expect an attempt to develop a correction and test the resistance area near the level of 76.05. Where can we expect a rebound and the continuation of the fall of the Dollar below the level of 67.55.
USD/RUB Forecast and Analysis March 16 — 20, 2020
An additional signal in favor of reducing the pair Dollar/Ruble will be a rebound from the resistance area. The second signal will be a rebound from the upper boundary of the ascending channel. Cancellation of the option of falling the pair Dollar/Ruble will be a strong growth and a breakdown of the area of 79.25. 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 85.05. Expect confirmation of a fall in the pair is with the breakdown of the support area and closing of the USD/RUB quotes below the level of 69.55.
USD/RUB Forecast and Analysis March 16 — 20, 2020 implies an attempt to test the resistance area near the level of 76.05. Where can we expect an attempt to fall of the Dollar to the area below the level of 67.55. An additional signal will be a rebound from the resistance area on the relative strength index (RSI). Cancellation of the option of depreciating the Dollar in the current trading week will be a strong growth and a breakdown of the area of 79.25. What will indicate the continuation of the rise of the pair with a target at the level of 85.05.
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