Currency pair US Dollar/Russian Ruble USD/RUB continues to move within the correction and the downward channel. At the time of publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 76.26. Moving averages indicate the presence of a short-term bearish trend. Prices are rebounding from the area between the signal lines, which indicates pressure from sellers of the US currency and a potential continuation of the fall of the US Dollar against the Russian Ruble. As part of the USD exchange rate forecast for April 20, 2022, we should expect an attempt to develop a price correction and a test of the resistance level near the area of 82.05 Rubles per US Dollar. Then, a rebound down and the continuation of the fall of the currency pair to the area below the level of 61.55.
USD/RUB Forecast Russian Ruble April 21, 2022
An additional signal in favor of a decrease in the USD/RUB currency pair on April 20, 2022 will be a test of the trend line on the relative strength index (RSI). The second signal will be the outflow from the upper border of the descending channel. Cancellation of the option of falling the USD/RUB pair on Forex will be a strong growth in quotes and a breakdown of the level of 93.65 rubles per dollar. This will indicate a breakdown of the resistance area and the continuation of the rise of the Dollar/Ruble pair to the area above the level of 105.05. The fall of the pair will be confirmed by the breakdown of the support area and the closing of the asset quotes below the level of 68.05, which will indicate the breakdown of the lower border of the descending channel.
USD/RUB Forecast Russian Ruble April 21, 2022 suggests an attempt to test the resistance level near the area of 82.05. Where can we expect a rebound and a continuation of the fall of the dollar against the ruble with a target below the level of 61.55. An additional signal in favor of the pair’s decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a breakdown of the resistance area and closing of quotes above the level of 93.65. In this case, we should expect continued growth of the US dollar against the Russian currency to the level of 105.05.
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