Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and the formation of the “Head and Shoulders” reversal pattern. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 76.20. Moving averages indicate a short-term bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the American currency and a potential continuation of the growth of the US Dollar against the Russian Ruble. As part of the dollar exchange rate forecast for April 20, 2021, we should expect an attempt to develop a rise in prices and a test of the resistance level near the area of 76.75 rubles per US dollar. Then, the rebound and the continuation of the fall of the currency pair to the area below the level of 71.85.
USD/RUB Forecast Russian Ruble April 20, 2021
An additional signal in favor of the fall of the USD/RUB currency pair on April 20, 2021 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the “Head and Shoulders” reversal pattern. Cancellation of the option to drop the USD/RUB pair on Forex will be a strong growth and a breakdown of the level of 78.45. Rubles for the Dollar. This will indicate a breakdown of the resistance area and continued growth of the Dollar/Ruble pair to an area above the level of 82.45. Confirmation of the fall of the pair will be the breakdown of the support area and the closing of the asset quotes below the level of 74.45, which will indicate a breakout of the ascending channel.
USD/RUB Forecast Russian Ruble April 20, 2021 implies an attempt to test the resistance level near the 76.75 area. Where can we expect a rebound and the continuation of the fall in the dollar rate against the ruble with a target below the level of 71.85. An additional signal in favor of the fall of the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a breakdown of the resistance area and closing of quotations above the level of 78.45. In this case, we should expect a continuation of the rise in the US dollar rate against the Russian currency to the level of 82.45.
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