Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and left the bullish channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 74.20. 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 8, 2021, we should expect an attempt to develop a bullish price correction and a test of the resistance level near the area of 75.25 rubles per US dollar. Then, a rebound down and the continuation of the fall of the currency pair to the area below the level of 70.65.
USD/RUB Forecast Russian Ruble December 8, 2021
An additional signal in favor of reducing the USD/RUB currency pair on December 8, 2021 will be a test of the downward 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 option to drop the USD/RUB pair on Forex will be a strong growth and a breakdown of the level of 76.35 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 78.55. Confirmation of the fall of the pair will be the breakdown of the support area and the closing of asset quotes below 72.25, which will indicate the price going beyond the bullish channel.
USD/RUB Forecast Russian Ruble December 8, 2021 imply an attempt to test the resistance level near the 75.25 area. Where can we expect a rebound and the continuation of the fall in the dollar rate against the ruble with a target below the level of 70.65. 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 reduction option will be a breakdown of the resistance area and closing of quotations above the level of 76.35. In this case, we should expect the continued growth of the US dollar against the Russian currency to the level of 78.55.
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