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 71.45. Moving averages indicate a short-term bearish trend. Prices pierced the area between the signal lines down, which indicates pressure from sellers of American currency. As part of the forecast for the Dollar on May 21, 2020, we should expect an attempt to develop a bullish correction and test the resistance level near the area of 72.25 Rubles per US Dollar. Then, the rebound and continued fall of the currency pair in the area below the level of 69.95.
USD/RUB Forecast Russian Ruble May 21, 2020
An additional signal in favor of the fall of the USD/RUB currency pair on May 21, 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 downward channel. Cancellation of the option of falling USD/RUB pair on Forex will be a strong growth and the breakdown level of 74.55. 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 21, 2020 suggests an attempt to test the resistance level near the area of 72.25. 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 69.95. 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 74.55. In this case, we should expect the continuation of the rise to the level of 79.05.
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