Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and the formation of an inverted «Head and Shoulders» model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 64.16. At the moment, we should expect an attempt to fall and a test of the support level near the region of 64.00 rubles for the US dollar. Then, the pair continues to grow to an area above the level of 67.40.
USD/RUB Forecast Russian Ruble April 16, 2019
A test of the support line on the relative strength index (RSI) will be in favor of the USD/RUB rise on April 16, 2019. The second signal will be the completion of the formation of the ascending model «Wolfe Wave». Cancellation of the option of raising the USD/RUB pair on Forex will be a fall and a breakdown of the level of 62.40 rubles per dollar. This will indicate a breakdown of the support area and a continued decline of the Dollar/Ruble pair to an area below 61.45. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above 65.75.
USD/RUB Forecast Russian Ruble April 16, 2019 implies an attempt to test the support level near the area of 64.00. Where should we expect a rebound and the continued growth of the dollar against the ruble with a goal above the level of 67.40. An additional signal in favor of raising the pair will be the test of the support line on the relative strength index (RSI). Cancellation of the growth option will be the breakdown of the support area and closing of quotes below the level of 62.40.