Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the decline and the downward channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 61.52. Moving averages indicate a short-term bearish trend. Prices continue to remain below the area between the signal lines, indicating pressure from sellers of American currency. As part of the USD/RUB rate forecast for tomorrow, January 16, 2020, we should expect an attempt to grow and test the resistance level near the area of 62.55 Rubles per US Dollar. Then, the rebound and continued fall of the currency pair in the area below the level of 59.25.
USD/RUB Forecast Russian Ruble January 16, 2020
In favor of reducing the pair USD/RUB on January 16, 2020, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall of the USD/RUB pair on Forex will be a strong growth and a breakdown of the level of 63.65 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 65.85. A confirmation of the fall of the pair will be a breakdown of the support area and closing below 61.05.
USD/RUB Forecast Russian Ruble January 16, 2020 suggests an attempt to test the resistance level near the area of 62.55. Where can we expect a rebound and the continuation of the fall of the Dollar against the Ruble with a target below the level of 59.25. An additional signal in favor of reducing 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 63.65. In this case, we should expect continued growth above the level of 65.85.
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