Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of a strong upward correction and a downward channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 63.13. Moving averages indicate a short-term bearish trend. Prices are testing the area between the signal lines, which indicates pressure from sellers of the American currency and a potential drop until prices break through the area between the lines up. As part of the USD/RUB forecast for tomorrow, January 31, 2020, we should expect an attempt to grow and test the resistance level near the area of 63.45 Rubles per US Dollar. Then, a rebound and continued fall of the currency pair in the area below the level of 59.95.
USD/RUB Forecast Russian Ruble January 31, 2020
In favor of reducing the pair USD/RUB on January 31, 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 63.75 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 65.95. The pair will be confirmed by a breakdown of the support area and closing below 60.55.
USD/RUB Forecast Russian Ruble January 31, 2020 suggests an attempt to test the resistance level near the area of 63.45. 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 59.95. 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 63.75. In this case, we should expect continued growth above the level of 65.95.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
