Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 68.05 Rubles per US Dollar. The pair continues to move in the framework of strong growth. Moving averages indicate a lateral trend. However, prices broke through the area between the signal lines up, which indicates a pressure from buyers of the US dollar. In the current trading week, March 9 — 13, 2020, we should expect an attempt to develop a correction and test the support area near the level of 66.45. Where can we expect a rebound and continued growth of the Dollar rate above the level of 72.55.
USD/RUB Forecast and Analysis March 9 — 13, 2020
An additional signal in favor of the growth of the Dollar/Ruble pair will be a rebound from the support area. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the growth option of the pair Dollar/Ruble will be a fall and a breakdown of the area of 64.05. 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 60.05. Expect confirmation of growth for the pair is with the breakdown of the resistance area and the closing of the USD/RUB quotes above 69.35.
USD/RUB Forecast and Analysis March 9 — 13, 2020 implies an attempt to test the support area near the level of 66.45. Where should we expect an attempt to grow the Dollar in the region above the level of 72.55. An additional signal 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 64.05. That will indicate a continued decline in the pair with a target at 60.05.
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