Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and the 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 76.02. Moving averages indicate a short-term bullish trend. Prices are testing the area between the signal lines, which indicates pressure from buyers of the US currency and a potential continued growth of the US Dollar against the Russian Ruble. As part of the dollar exchange rate forecast for February 4, 2021, we should expect an attempt to develop a rise and test the resistance level near the area of 75.25 rubles per US dollar. Then, the rebound and the continuation of the fall of the currency pair to the area below the level of 77.95.
USD/RUB Forecast Russian Ruble February 4, 2021
An additional signal in favor of the fall of the USD/RUB currency pair on February 4, 2021 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the “Triangle” pattern. Cancellation of the option to drop the USD/RUB pair on Forex will be a strong growth and a breakdown of the level of 74.35. 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 72.25. Confirmation of the rise in the pair will be the breakdown of the resistance area and the closing of the asset quotes above the level of 76.75, which will indicate a breakdown of the upper border of the “Triangle” model.
USD/RUB Forecast Russian Ruble February 4, 2021 imply an attempt to test the support level near the 75.25 area. Where can we expect a rebound and continued growth in the dollar against the ruble with a target above the level of 77.95. 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 quotations below the level of 74.35. In this case, we should expect the US dollar to continue falling against the Russian currency to the level of 72.25.
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