Currency pair US Dollar to Russian Ruble USD/RUB ends the trading week near the level of 74.19 Rubles per US Dollar. The pair continues to move within the framework of the correction and the formation of the “Triangle” pattern. Moving averages indicate a bullish trend. Prices have broken the area between the signal lines upward, which indicates pressure from the US dollar buyers. In the current trading week July 19 — 23, 2021 we should expect an attempt to develop a correction and a test of the resistance area near the level of 75.55. Where can we expect a rebound and a continuation of the fall in the dollar rate against the Russian Ruble below the level of 65.15.
USD/RUB Forecast and Weekly Analysis July 19 — 23, 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 area of 79.15. This will indicate a breakdown of the resistance level and continued growth in the US Dollar against the Russian Ruble with a target above 82.75. It is worth waiting for confirmation of a fall in the pair with the breakdown of the support area and closing of the USD/RUB quotes below 69.25, which will indicate a breakdown of the lower border of the “Triangle” model.
USD/RUB Forecast and Weekly Analysis July 19 — 23, 2021 implies an attempt to test the resistance area near the level of 75.55. Where can we expect an attempt to drop the price and the Dollar rate to an area below the level of 65.15. An additional signal in favor of reducing this option will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option for the dollar to fall in the current trading week will be a strong growth and a breakdown of the 79.15 area. This will indicate a continued rise in the pair with a target at 82.75.
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