Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the growth and the beginning of the development of the «Triangle» model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 72.22. Moving averages indicate a short-term bullish trend. Prices have moved away from the area between the signal lines, which indicates pressure from buyers of the American currency and a potential continued growth. As part of the dollar exchange rate forecast for July 29, 2020, we should expect an attempt to develop a decline and test the support level near the area of 71.25 rubles per US dollar. Then, a rebound and continued growth of the currency pair to the area above the level of 74.25.
USD/RUB Forecast Russian Ruble July 29, 2020
An additional signal in favor of raising the USD/RUB currency pair on July 29, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the «Triangle» model. Cancellation of the growth option for the USD/RUB pair on FOREX will be a fall and a breakdown of the level of 70.25. Rubles per Dollar. This will indicate a breakdown of the support area and the continuation of the fall of the Dollar/Ruble pair to an area below the level of 68.05. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closing of asset quotes above the level of 72.95.
USD/RUB Forecast Russian Ruble July 29, 2020 implies an attempt to test the support level near the 71.25 area. Where can we expect a rebound and continued growth in the dollar against the ruble with a target above the level of 74.25. An additional signal in favor of raising the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a breakdown of the support area and closing of quotations below the level of 70.25. In this case, we should expect a continuation of the fall to the level of 68.05.
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