Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 64.57 Rubles for the US Dollar. The pair continues to move within the downward channel. Moving averages indicate an uptrend. In the current trading week May 20 — 24, 2019, a decline is expected and a test of the support area near the level of 64.05. Where can we expect a rebound and continued growth of the dollar above the level of 68.35.
USD/RUB Forecast and Analysis May 20 — 24, 2019
In favor of the growth of the dollar/ruble pair will be a test of the support line on the indicator of relative strength index (RSI). The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the option to continue the growth of the pair Ruble Dollar will be a decline and a breakdown of the 61.95 area. This will indicate a breakdown of the support area and the continuation of the depreciation of the US Dollar against the Russian Ruble. Expect confirmation of growth in the pair stands with the breakdown of the resistance area and closing of the USD/RUB quotes above the level of 66.55.
USD/RUB Forecast and Analysis May 20 — 24, 2019 implies an attempt to test the support area near the level of 64.05. Where should we expect an attempt to increase the dollar in the region above the level of 68.35. The formation of an inverted «Head and Shoulders» model will favor growth of the pair. Cancellation of the growth rate of the dollar in the current trading week will be a decline and a breakdown of 61.95 area. What will indicate the continuation of the fall of the pair.