Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the growth and formation of the «Head and Shoulders» reversal pattern. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 63.09. Moving averages indicate a short-term bullish trend. Prices are testing the area between the signal lines, which indicates pressure from buyers of the American currency. As part of the USD/RUB forecast for tomorrow February 7, 2020, we should expect an attempt to grow and test the resistance level near the area of 63.55 Rubles per US Dollar. Then, a rebound and continued fall of the currency pair in the area below the level of 60.85.
USD/RUB Forecast Russian Ruble February 7, 2020
An additional signal in favor of reducing the pair USD/RUB on February 7, 2020 will be a test of the trend line on the relative strength index (RSI). The second signal will be the assurance of the formation of a reversal model. Cancellation of the fall of the USD/RUB pair on FOREX will be a strong growth and a breakdown of the level of 64.25 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 66.35. A confirmation of the fall of the pair will be a breakdown of the support area and closing below 62.25.
USD/RUB Forecast Russian Ruble February 7, 2020 suggests an attempt to test the resistance level near the area of 63.55. Where can we expect a rebound and the continuation of the fall of the Dollar against the Ruble with a target below 60.85. An additional signal in favor of the fall of the pair will be a test of the trend line on the relative strength index (RSI). The cancellation of the reduction option will be a breakdown of the resistance area and closing of quotations above the level of 64.25. In this case, we should expect continued decline below 66.35.
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