Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 72.36 Rubles per US Dollar. The pair continues to move within the growth and bullish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the US dollar and a likely continuation of the pair’s growth already from these levels. In the current trading week February 20 — 24, 2023, we should expect an attempt to develop a decline and test the support area near the level of 70.05. Where should we expect a rebound upwards and continued growth of the Dollar against the Russian Ruble with a target above the level of 88.65.
USD/RUB Forecast February 20 — 24, 2023
An additional signal in favor of the rise of the Dollar/Ruble pair will be a rebound from the lower border of the bullish channel. 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 61.25 area. This will indicate a breakdown of the support level and a continuation of the fall of the US Dollar against the Russian Ruble with a target below the level of 53.65. It is worth waiting for confirmation of the rise in the pair with a breakdown of the resistance area and the closing of USD/RUB quotes above the level of 80.65, which will indicate a breakdown of the upper limit of the bullish channel, and this is a signal for the pair to grow by the width of the channel.
USD/RUB Forecast February 20 — 24, 2023 suggests an attempt to test the support area near the level of 70.05. Where should we expect a rebound upwards and the continuation of the growth of the fall of the dollar to the area above the level of 88.65. An additional signal in favor of this option will be a rebound from the trend line on the relative strength index. Cancellation of the option of raising the dollar in the current trading week will be a fall and a breakdown of the area of 61.25. Which will indicate the continuation of the fall of the pair with the target at the level of 53.65.
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