Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and formation of the «Wedge» model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 63.96. 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 27, 2019, we should expect an attempt to fall and test the support level near the area of 63.65 Rubles per US Dollar. Then, a rebound and continued growth of the currency pair in the region above the level of 66.25.
USD/RUB Forecast Russian Ruble November 27, 2019
In favor of the growth of the USD/RUB pair on November 27, 2019, a test of the ascending trend line on the relative strength index (RSI) will be made. 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 62.75 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 61.15. A confirmation of the growth of the pair will be a breakdown of the upper boundary of the «Wedge» model and closing above 64.65.
USD/RUB Forecast Russian Ruble November 27, 2019 suggests an attempt to test the support level near the area of 63.65. Where can we expect a rebound and continued growth of the Dollar against the Ruble with a target above the level of 66.25. 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 of quotes below 62.75. In this case, we should expect continued decline below the level of 61.15.
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