Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the fall and the bullish channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 74.85. Moving averages indicate a short-term bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the US currency and a potential continuation of the fall of the US Dollar against the Russian Ruble. As part of the dollar exchange rate forecast for January 12, 2022, we should expect an attempt to develop price growth and test the resistance level near the area of 75.35 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 72.85.
USD/RUB Forecast Russian Ruble January 12, 2022
An additional signal in favor of the fall of the USD/RUB currency pair on January 12, 2022 will be a test of the broken 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 reduce the USD/RUB pair on Forex will be a strong growth in quotations and a breakdown of the level of 77.05 rubles per dollar. This will indicate a breakdown of the resistance area and a continued rise in the Dollar/Ruble pair to an area above the level of 78.85. Confirmation of the fall of the pair will be the breakdown of the support area and the closing of the asset quotes below the level of 74.05, which will indicate the breakdown of the lower boundary of the next bullish channel, as well as the confirmation of the formation of the “Head and Shoulders” reversal pattern.
USD/RUB Forecast Russian Ruble January 12, 2022 implies an attempt to test the resistance level near the area of 75.35. 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 72.85. 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 fall option will be a breakdown of the resistance area and closing of quotations above the level of 77.05. In this case, we should expect a continuation of the rise in the US dollar rate against the Russian currency to the level of 78.85.
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