Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and formation of the Klin model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 63.95. Moving averages indicate the presence of a short-term downtrend, prices continue to push off from signal lines, which indicates pressure from the bears. As part of the USD/RUB forecast for tomorrow, November 21, 2019, we should expect an attempt to fall and test the support level near the area of 63.05 Rubles per US Dollar. Then, a rebound and continued growth of the currency pair in the area above the level of 66.15.
USD/RUB Forecast Russian Ruble November 21, 2019
In favor of the growth of the USD/RUB pair on November 21, 2019, an uptrend test on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option for the USD/RUB pair on Forex will be a fall and a breakdown of the level of 62.45 Rubles per Dollar. This will indicate a breakdown of the support area and the continued fall of the Dollar/Ruble pair to the area below the level of 60.05. A confirmation of the growth of the pair will be a breakdown of the upper boundary of the Klin model and closing above 64.95.
USD/RUB Forecast Russian Ruble November 21, 2019 suggests an attempt to test the support level near the area of 63.05. Where can we expect a rebound and continued growth of the Dollar against the Ruble with a target above the level of 66.15. An additional signal in favor of raising the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a breakdown of the support area and closing quotes below 60.05. In this case, we should expect continued fall below the level of 64.95.
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