Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the fall and the beginning 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 74.77. Moving averages indicate a short-term flat trend. Prices have broken down the area between the signal lines, which indicates pressure from the sellers of the US currency and a potential continuation of the fall of the US Dollar against the Russian Ruble. As part of the dollar exchange rate forecast for April 29, 2021, we should expect an attempt to develop a rise in prices and a test of the resistance level near the area of 75.45 rubles per US dollar. Then, the rebound and the continuation of the fall of the currency pair to the area below the level of 72.25.
USD/RUB Forecast Russian Ruble April 29, 2021
An additional signal in favor of the fall of the USD/RUB currency pair on April 29, 2021 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the Neck line 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 77.85. 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 82.55. Confirmation of the pair’s fall will be the breakdown of the support area and the closing of asset quotes below 74.05.
USD/RUB Forecast Russian Ruble April 29, 2021 imply an attempt to test the resistance level near the area of 75.45. 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 72.25. 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 77.85. In this case, we should expect a continuation of the rise in the US dollar rate against the Russian currency to the level of 82.55.
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