Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the rise and the downward channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 73.55. Moving averages indicate a short-term bearish trend. Prices are again testing 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 August 11, 2021, we should expect an attempt to develop a price decline and a test of the support level near the area of 73.25 rubles per US dollar. Then, the rebound and the continuation of the rise of the currency pair to the area above the level of 75.25.
USD/RUB Forecast Russian Ruble August 11, 2021
An additional signal in favor of the growth of the USD/RUB currency pair on August 11, 2021 will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the USD/RUB pair on Forex will be a fall and a breakdown of the level of 72.35. Rubles for the Dollar. This will indicate a breakdown of the support area and the continuation of the fall of the Dollar/Ruble pair to an area below the level of 70.05. Confirmation of the rise in the pair will be the breakdown of the resistance area and the closing of asset quotes above the level of 74.05.
USD/RUB Forecast Russian Ruble August 11, 2021 implies an attempt to test the support level near the 73.25 area. Where can we expect a rebound and a continued rise in the dollar against the ruble with a target above the level of 75.25. An additional signal in favor of the pair’s growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the rise option will be a breakdown of the support area and closing of quotations below the level of 72.35. In this case, we should expect the continuation of the fall in the US dollar rate against the Russian currency to the level of 70.05.
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