Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the fall 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 63.01. Moving averages indicate a bearish trend. As part of the forecast for the USD/RUB exchange rate for tomorrow, July 23, 2019, we can expect an attempt to grow and test the support level near the region of 62.85 Rubles for the US Dollar. Then, the rebound and the continued growth of the currency pair in the region above the level of 65.20.
USD/RUB Forecast Russian Ruble July 23, 2019
A test of the support line on the relative strength indicator will be in favor of the USD/RUB pair growth on July 23, 2019. The second signal will be a rebound from the support level. Cancellation of the growth option of the USD/RUB pair on Forex will be a fall and a breakdown of the level of 61.15 rubles per dollar. This will indicate a breakdown of the support area and the continuation of the decline of the Dollar/Ruble pair to an area below the level of 58.75. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above the level of 64.10, which will indicate the completion of the formation of the «Double Bottom» reversal pattern.
USD/RUB Forecast Russian Ruble July 23, 2019 implies an attempt to test the support level near the 62.85 area. Where can we expect a rebound and the continued growth of the dollar against the ruble with a goal above the level of 65.20. An additional signal in favor of raising the pair will be the test of the support line on the relative strength indicator. Cancellation of the growth option will be the breakdown of the support area and closing of quotations below the level of 61.15. In this case, we should expect the continuation of the fall below the level of 58.75.
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