Currency pair US Dollar to Russian Ruble USD/RUB ends the trading week near the level of 76.14 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 again testing from the area between the signal lines, which indicates pressure from the US dollar buyers. In the current trading week, April 5-9, 2021, we should expect an attempt to develop a correction and a test of the support area near the level of 73.35. Where can we expect a rebound and the beginning of the growth of the dollar rate against the Russian Ruble above the level of 87.35.
USD/RUB Forecast and Weekly Analysis April 5 — 9, 2021
An additional signal in favor of the rise of the Dollar/Ruble pair will be a rebound from the lower border of the ”Triangle” model. The second signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the growth option for the Dollar / Ruble pair will be a fall and a breakdown of the 70.05 area. This will indicate a breakdown of the support level and a continued fall in the US Dollar against the Russian Ruble with a target below 65.55. It is worth waiting for confirmation of growth for the pair with the breakdown of the resistance area and closing of the USD/RUB quotes above the level of 79.95, which will indicate a breakdown of the upper border of the ”Triangle” model and the beginning of the development of this pattern.
USD/RUB Forecast and Weekly Analysis April 5 — 9, 2021 implies an attempt to test the support area near the level of 73.35. Where can we expect an attempt to increase the price and the Dollar rate to the area above the level of 87.35. An additional signal in favor of this option will be a rebound from the support line on the relative strength index (RSI). Cancellation of the option to raise the dollar rate in the current trading week will be a fall and a breakdown of the 70.05 area. This will indicate a continued decline in the pair with a target at 65.55.
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