Currency pair US Dollar to Russian Ruble USD/RUB ends the trading week near the level of 73.98 Rubles per US Dollar. The pair continues to move within the framework of the correction and the formation of a large “Triangle” reversal pattern. Moving averages indicate a bullish trend. Prices are again testing from the area between the signal lines, which indicates pressure from US dollar buyers. In the current trading week December 28, 2020 — January 1, 2021 we should expect an attempt to develop growth and test the resistance area near the level of 76.25. Where can we expect a rebound and the beginning of a fall in the dollar rate against the Russian Ruble below the level of 63.35.
USD/RUB Forecast December 28, 2020 — January 1, 2021
An additional signal in favor of reducing the pair Dollar/Ruble will be a rebound from the upper border of the descending channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option to drop the Dollar/Ruble pair will be a strong growth and a breakdown of the 79.95 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 82.95. Expect confirmation of a fall in the pair with the breakdown of the support area and the closing of the USD/RUB quotes below 69.75, which will indicate a breakdown of the lower border of the “Triangle” model.
USD/RUB Forecast December 28, 2020 — January 1, 2021 implies an attempt to test the resistance area near the level of 76.25. Where can we expect an attempt to drop the price and the Dollar rate to an area below the level of 63.35. 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 drop the dollar rate in the current trading week will be a strong growth and a breakdown of the 79.95 area. This will indicate a continued rise in the pair with a target at 82.95.
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