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.
