Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and the upward channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 76.05. Moving averages indicate a short-term bullish trend. Prices are testing the area between the signal lines, which indicates pressure from buyers of American currency. As part of the USD/RUB forecast for tomorrow, April 7, 2020, we should expect an attempt to develop a bullish correction and test the resistance level near the area of 77.95 Rubles per US Dollar. Then, the rebound and continued fall of the currency pair in the area below the level of 70.55.
USD/RUB Forecast Russian Ruble April 7, 2020
An additional signal in favor of the fall of the USD/RUB pair on April 7, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of falling USD/RUB pair on Forex will be a strong growth and the breakdown level of 81.65. Rubles per 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 85.55. The pair will be confirmed by a breakdown of the support area and closing below 76.55.
USD/RUB Forecast Russian Ruble April 7, 2020 suggests an attempt to test the resistance level near the area of 77.95. Where can we expect a rebound and the continuation of the fall of the Dollar against the Ruble with a target below the level of 70.55. An additional signal in favor of reducing the pair 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 quotations above the level of 81.65. In this case, we should expect continued growth above the level of 85.55.
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