Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 64.30 Rubles per US Dollar. The pair continues to move within the lateral correction and the bullish channel. Moving averages indicate a bullish trend that is nearing completion. In the current trading week October 7 — 11, 2019 we should expect an attempt to reduce and test the support area near the level of 62.85. Where can we expect a rebound and continued growth of the dollar above the level of 69.65.
USD/RUB Forecast and Analysis October 7 — 11, 2019
In favor of raising the pair Dollar/Ruble, a rebound from the lower border of the rising channel will be made. 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 pair Dollar/Ruble will be a fall and a breakdown of the area of 60.55. This will indicate a breakdown of the support area and the continuation of the fall of the US Dollar against the Russian Ruble with a target below the level of 58.05. Expect confirmation of growth for the pair is with the breakdown of the upper border of the downward channel and the closing of the USD/RUB quotes above the level of 67.45.
USD/RUB Forecast and Analysis October 7 — 11, 2019 involves an attempt to test the support area near the level of 62.85. Where can we expect an attempt to grow the Dollar in the region above the level of 69.65. An additional signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the option of raising the rate of the Dollar in the current trading week will be a fall and a breakdown of the area of 60.55. Which will indicate a continued decline in the pair with a target at 58.05.
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