Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the fall and the beginning of the development of the “Triangle” model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 76.40. Moving averages indicate a short-term bullish trend. However, prices have broken down the area between the signal lines, which indicates pressure from the sellers of the US currency and a potential continuation of the fall of the US Dollar against the Russian Ruble. As part of the dollar exchange rate forecast for October 27, 2020, we should expect an attempt to develop a bullish correction and test the resistance level near the area of 76.85 rubles per US dollar. Then, the rebound and the continuation of the fall of the currency pair to the area below the level of 73.75.
USD/RUB Forecast Russian Ruble October 27, 2020
An additional signal in favor of the fall of the USD/RUB currency pair on October 23, 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 border of the “Triangle” 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 78.35. 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 82.05. Confirmation of the pair’s fall will be the breakdown of the support area and the closing of asset quotes below 75.55.
USD/RUB Forecast Russian Ruble October 27, 2020 implies an attempt to test the resistance level near the 76.85 area. Where can we expect a rebound and the continued fall of the dollar against the ruble with a target below the level of 73.75. An additional signal in favor of the fall of the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a breakdown of the resistance area and closing of quotations above the level of 78.35. In this case, we should expect a continuation of the rise to the level of 82.05.
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