Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 61.92 Rubles per US Dollar. The pair continues to move within the fall and the bearish channel. Moving averages indicate a bearish trend. In the current trading week December 30, 2019 — January 3, 2020, we should expect an attempt to grow and test the resistance area near the level of 62.65. Where can we expect a rebound and the continuation of the fall of the Dollar below the level of 57.95.
USD/RUB Forecast December 30, 2019 — January 3, 2020
An additional signal in favor of reducing the pair Dollar/Ruble will be a rebound from the lower border of the rising channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option of falling the pair Dollar/Ruble will be a strong growth and a breakdown of the area of 65.55. This will indicate a breakdown of the resistance level and continued growth of the US Dollar against the Russian Ruble with a target above 69.05. Expect confirmation of a fall in the pair is with the breakdown of the support area and closing of the USD/RUB quotes below the level of 61.25.
USD/RUB Forecast December 30, 2019 — January 3, 2020 involves an attempt to test the resistance area near the level of 62.65. Where can we expect an attempt to fall of the Dollar to the area below the level of 57.95. An additional signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the option of depreciating the Dollar in the current trading week will be a strong growth and a breakdown of the area of 65.55. That will indicate continued growth of the pair with a target at 69.05.
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Quite interesting analysis or forecasting.
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