Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and formation of the «Triangle» model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 66.72. Moving averages indicate a bullish trend. As part of the USD/RUB forecast for tomorrow, August 29, 2019, we should expect an attempt to lower and test the support level near the area of 65.65 Rubles per US Dollar. Then, a rebound and continued growth of the currency pair in the region above the level of 68.45.
USD/RUB Forecast Russian Ruble August 29, 2019
In favor of the rise of the USD/RUB pair on August 29, 2019, a test of the support line on the relative strength index (RSI) will be made. 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 64.65 Rubles per Dollar. This will indicate a breakdown of the support area and the continued fall of the Dollar/Ruble pair to the area below the level of 62.05. The pair will be confirmed by a breakdown of the resistance area and closing above 67.55.
USD/RUB Forecast Russian Ruble August 29, 2019 suggests an attempt to test the support level near the area of 65.65. Where can we expect a rebound and continued growth of the Dollar against the Ruble with a target above the level of 68.45. An additional signal in favor of raising the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a breakdown of the support area and closing of quotes below 64.65. In this case, we should expect continued decline below the level of 62.05.
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