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 68.84. Moving averages indicate a short-term bearish trend. Prices have gone far below the area between the signal lines, indicating pressure from sellers of US currency. As part of the forecast for the Dollar on June 12, 2020, we should expect an attempt to develop a bullish correction and a test of the resistance level near the area of 70.05 Rubles per US Dollar. Then, a rebound and continued fall of the currency pair in the area below the level of 63.05.
USD/RUB Forecast Russian Ruble June 12, 2020
An additional signal in favor of the fall of the USD/RUB currency pair on June 12, 2020 will be a test of the resistance line on the relative strength index (RSI). 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 72.05. Rubles per dollar. This will indicate a breakdown of the resistance area and the continuation of the rise of the Dollar/Ruble pair to an area above the level of 75.55. A confirmation of the fall of the pair will be a breakdown of the support area and closing below 67.05.
USD/RUB Forecast Russian Ruble June 12, 2020 suggests an attempt to test the resistance level near the area of 70.05. 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 63.05. An additional signal in favor of reducing the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a breakdown of the resistance area and closing of quotations above the level of 72.05. In this case, we should expect the continuation of the rise to the level of 75.55.
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