Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction 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 64.09. Moving averages indicate the presence of a short-term bullish trend, prices have broken signal lines up, which indicates pressure from buyers of the American currency. As part of the USD/RUB forecast for tomorrow, December 4, 2019, we should expect an attempt to reduce and test the support level near the area of 63.85 Rubles per US Dollar. Then, a rebound and continued growth of the currency pair in the area above the level of 65.95.
USD/RUB Forecast Russian Ruble December 4, 2019
On December 4, 2019, a test of the broken trend line on the relative strength index (RSI) will be in favor of raising the USD/RUB pair. The second signal will be a rebound from the upper boundary of the «Triangle» model. Cancellation of the growth option for the USD/RUB pair on Forex will be a fall and a breakdown of the level of 63.15 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 60.35. A confirmation of the growth of the pair will be a breakdown of the resistance area and closing above 64.95.
USD/RUB Forecast Russian Ruble December 4, 2019 involves an attempt to test the support level near the area of 63.85. Where can we expect a rebound and continued growth of the Dollar against the Ruble with a target above the level of 65.95. 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 the level of 63.15. In this case, we should expect continued decline below the level of 60.35.
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