Currency pair US Dollar/Russian Ruble USD/RUB continues to move in the framework of a strong and rising channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 66.49. Moving averages indicate a short-term bullish trend. Prices have gone far up from the area between the signal lines, indicating pressure from buyers of the American currency. As part of the USD/RUB forecast for tomorrow March 3, 2020, we should expect an attempt to grow and test the resistance level near the area of 67.55 Rubles per US Dollar. Then, a rebound and continued fall of the currency pair in the area below the level of 63.85.
USD/RUB Forecast Russian Ruble March 3, 2020
An additional signal in favor of reducing the pair USD/RUB on March 3, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the resistance area. Cancellation of the option of falling USD/RUB pair on FOREX will be a strong growth and the breakdown level of 68.75. 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 71.35. Confirmation of the fall of the pair will be a breakdown of the lower boundary of the upward channel and closing below 65.15, which will indicate the exit of prices outside the upward channel.
USD/RUB Forecast Russian Ruble March 3, 2020 implies an attempt to test the resistance level near the area of 67.55. 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 63.85. 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 68.75. In this case, we should expect the continuation of the rise above the level of 71.35.
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