Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and the formation 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 62.40. Moving averages indicate the presence of a short-term bearish trend. Prices went down from the area between the signal lines down, 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 May 19, 2022, we should expect an attempt to develop a price correction and a test of the resistance level near the area of 63.45 rubles per USD. Then, a rebound down and the continuation of the fall of the currency pair to the area below the level of 48.65.
USD/RUB Forecast Russian Ruble May 20, 2022
An additional signal in favor of a decrease in the USD/RUB currency pair on May 20, 2022 will be a test of the trend line on the relative strength index (RSI). The second signal will be an outflow from the upper border of the “Triangle” model. 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 71.05 rubles per dollar. This will indicate a breakdown of the resistance area and the continuation of the rise of the Dollar/Ruble pair to the area above the level of 77.55. The fall of the pair will be confirmed by the breakdown of the support area and the closing of the asset quotes below the level of 56.05, which will indicate the breakdown of the lower border of the “Triangle” model and the beginning of this pattern.
USD/RUB Forecast Russian Ruble May 20, 2022 suggests an attempt to test the resistance level near the area of 63.45. 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 48.65. An additional signal in favor of the pair’s decline 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 quotes above the level of 71.05. In this case, we should expect continued growth of the US dollar against the Russian currency to the level of 77.55.
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