Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and the bullish channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 74.43. Moving averages indicate a short-term bullish trend. Prices moved up from the area between the signal lines, which indicates pressure from buyers of the US currency and a potential continuation of the growth of the US Dollar against the Russian Ruble. As part of the dollar exchange rate forecast for December 1, 2021, we should expect an attempt to develop a price correction and test the support level near the area of 73.95 rubles per US dollar. Then, an upward rebound and the continuation of the rise of the currency pair to the area above the level of 77.85.
USD/RUB Forecast Russian Ruble December 1, 2021
An additional signal in favor of raising the USD/RUB currency pair on December 1, 2021 will be a test of the bullish 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 72.25 Rubles per 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 69.05. 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 76.55.
USD/RUB Forecast Russian Ruble December 1, 2021 imply an attempt to test the support level near the 73.95 area. Where can we expect a rebound and continued growth in the dollar against the ruble with a target above the level of 77.85. 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 quotations below the level of 72.25. In this case, we should expect the continuation of the fall in the US dollar rate against the Russian currency to the level of 69.05.
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