Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the fall 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 72.50. Moving averages indicate a short-term bearish trend. Prices pierced the area between the signal lines up, which indicates pressure from buyers of the American currency. As part of the forecast for the Dollar on May 20, 2020, we should expect an attempt to develop a bullish correction and test the resistance level near the area of 73.05 Rubles per US Dollar. Then, a rebound and continued fall of the currency pair in the area below the level of 69.85.
USD/RUB Forecast Russian Ruble May 20, 2020
An additional signal in favor of the fall of the USD/RUB currency pair on May 20, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the fall of the USD/RUB pair on FOREX will be a strong growth and a breakdown of the level of 75.25. Rubles per dollar. This will indicate a breakdown of the resistance area and the continuation of the rise of the Dollar/Ruble pair to the area above the level of 79.05. A confirmation of the fall of the pair will be a breakdown of the support area and closing below 71.15.
USD/RUB Forecast Russian Ruble May 20, 2020 suggests an attempt to test the resistance level near the area of 73.05. 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 69.85. 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 the level of 75.25. In this case, we should expect the continuation of the rise to the level of 79.05.
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