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 63.67. 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 7, 2019, we should expect an attempt to correct and test the resistance level near the area of 64.20 Rubles per US Dollar. Then, a rebound and continued fall of the currency pair in the area below the level of 61.95.
USD/RUB Forecast Russian Ruble November 7, 2019
In favor of the fall of the USD/RUB pair on November 7, 2019, a test of the downward trend line on the relative strength index (RSI) will be performed. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall of the USD/RUB pair on Forex will be a strong growth and a breakdown of the level of 64.95 Rubles per 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 67.35. A confirmation of the fall of the pair will be a breakdown of the support area and closing below 62.55.
USD/RUB Forecast Russian Ruble November 7, 2019 involves an attempt to test the resistance level near the area of 64.20. 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 61.95. 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 64.95. In this case, we should expect continued growth above the level of 67.35.
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