Currency pair US Dollar to Russian Ruble USD/RUB ends the trading week near the level of 75.53 Rubles per US Dollar. The pair continues to move as part of the correction and the formation of a large “Triangle” pattern. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines again, which indicates pressure from the US dollar buyers. In the current trading week April 26 — 30, 2021, we should expect an attempt to develop a correction and test the resistance area near the level of 76.85. Where can we expect a rebound and the beginning of a fall in the dollar rate against the Russian Ruble above the level of 66.35.
USD/RUB Forecast and Weekly Analysis April 26 — 30, 2021
An additional signal in favor of the fall of the Dollar/Ruble pair will be a rebound from the upper border of the “Triangle” model. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option to reduce the pair Dollar/Ruble will be a strong growth and a breakdown of the 80.05 area. This will indicate a breakdown of the resistance level and a continued rise in the US Dollar rate against the Russian Ruble with a target above the level of 85.45. Expect confirmation of a fall in the pair with the breakdown of the support area and closing of the USD/RUB quotes below the level of 71.45, which will indicate a breakdown of the lower boundary of the “Triangle” model and the beginning of the development of this pattern.
USD/RUB Forecast and Weekly Analysis April 26 — 30, 2021 implies an attempt to test the resistance area near the level of 76.85. Where can we expect an attempt to drop the price and the Dollar rate to the area below the level of 66.35. An additional signal in favor of this option will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option to depreciate the Dollar in the current trading week will be a strong growth and a breakdown of the 80.05 area. This will indicate a continued rise in the pair with a target at 85.45.
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