Currency pair US Dollar/Russian Ruble USD/RUB continues to move within the correction 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 52.58. Moving averages indicate the presence of a short-term bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the US currency and a potential continuation of the fall of the US Dollar against the Russian Ruble. As part of the USD exchange rate forecast for July 5, 2022, we should expect an attempt to develop a price correction and a test of the resistance level near the area of 56.05 rubles per USD. Then, a rebound down and the continuation of the fall of the currency pair to the area below the level of 39.45.
USD/RUB Forecast Russian Ruble July 5, 2022
An additional signal in favor of a decline in the USD/RUB currency pair on July 1, 2022 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of falling the USD/RUB pair on Forex will be a strong growth in quotes and a breakdown of the level of 63.05 rubles per dollar. This will indicate a breakdown of the resistance area and continued growth of the Dollar/Ruble pair to the area above the level of 67.05. The fall of the pair will be confirmed by a breakdown of the support area and closing of the asset quotes below the level of 45.05, which will indicate a breakdown of the lower border of the descending channel.
USD/RUB Forecast Russian Ruble July 5, 2022 suggests an attempt to test the resistance level near the area of 56.05. Where should we expect a rebound and a continuation of the fall of the dollar against the ruble with a target below the level of 39.45. An additional signal in favor of the fall of the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a breakdown of the resistance area and closing of quotes above the level of 63.05. In this case, we should expect continued growth of the US dollar against the Russian currency to the level of 67.05.
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