Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of strong growth and a bearish channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 63.82. Moving averages indicate a short-term bearish trend. Prices pierced the area between the signal lines up, which indicates pressure from buyers of the American currency. As part of the USD/RUB forecast for tomorrow February 4, 2020, we should expect an attempt to lower and test the support level near the area of 62.75 Rubles per US Dollar. Then, a rebound and continued growth of the currency pair in the region above the level of 66.85.
USD/RUB Forecast Russian Ruble February 4, 2020
On February 4, 2020, 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 downward channel. Cancellation of the growth option for the USD/RUB pair on Forex will be a fall and a breakdown of the level of 63.75 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 61.75. The pair will be confirmed by a breakdown of the resistance area and closing above 64.65.
USD/RUB Forecast Russian Ruble February 4, 2020 implies an attempt to test the support level near the area of 62.75. Where can we expect a rebound and continued growth of the Dollar against the Ruble with a target above the level of 66.85. An additional signal in favor of the growth of the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the upgrade option will be a breakdown of the support area and closing quotes below the level of 63.75. In this case, we should expect continued fall below the level of 61.75.
