Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 63.91 Rubles per US Dollar. The pair continues to move within the correction and the downward channel. Moving averages indicate a bullish trend that is nearing completion. In the current trading week October 21 — 25, 2019, we should expect an attempt to reduce and test the support area near the level of 62.55. Where can we expect a rebound and continued growth of the Dollar exchange rate above 66.25.
USD/RUB Forecast and Analysis October 21 — 25, 2019
A rebound from the support area will be in favor of raising the Dollar/Ruble pair. The second signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the option to continue the growth of the Dollar/Ruble pair will be a fall and a breakdown of the area of 61.45. 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 58.35. Expect confirmation of growth for the pair is with the breakdown of the upper boundary of the downward channel and the closing of the USD/RUB quotes above the level of 66.65.
USD/RUB Forecast and Analysis October 21 — 25, 2019 implies an attempt to test the support area near the level of 62.55. Where can we expect an attempt to grow the Dollar in the region above the level of 66.25. An additional signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the option of raising the dollar exchange rate in the current trading week will be a fall and a breakdown of the area of 61.45. Which will indicate a continued decline in the pair with the target at 58.35.
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