Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the correction and the upward channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 76.82. Moving averages indicate a short-term bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the US currency and a potential continued growth of the US Dollar against the Russian Ruble. As part of the USD exchange rate forecast for November 6, 2020, we should expect an attempt to develop growth and test the resistance level near the 79.05 Ruble per US Dollar. Then, the rebound and the continuation of the fall of the currency pair to the area below the level of 70.55.
USD/RUB Forecast Russian Ruble November 6, 2020
An additional signal in favor of the fall of the USD/RUB currency pair on November 6, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be the completion of the formation of the “Head and Shoulders” reversal pattern. Cancellation of the option to drop the USD/RUB pair on Forex will be a strong growth and a breakdown of the level of 81.25. Rubles for the Dollar. This will indicate a breakdown of the resistance area and continued growth of the Dollar/Ruble pair to an area above the level of 83.55. Confirmation of the pair’s fall will be the breakdown of the support area and the closing of asset quotes below 75.05.
USD/RUB Forecast Russian Ruble November 6, 2020 implies an attempt to test the resistance level near the 79.05 area. Where can we expect a rebound and the continued fall of the Dollar against the Ruble with a target below the level of 70.55. 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 81.25. In this case, we should expect continued growth to the level of 83.55.
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