Currency pair US Dollar Russian Ruble USD/RUB continues to move in the framework of the sideways movement and the formation of the bull pattern «Wolfe Wave». At the time of the publication of the forecast, the exchange rate of the US dollar to the Russian ruble is 65.65. At the moment, it is worth expecting an attempt to test the support level near the area of 65.00 Rubles per US Dollar and the continued growth of the pair to an area above the level of 67.50 as part of the start of model development.
USD/RUB forecast Russian Ruble October 31, 2018
In favor of the growth of the pair USD/RUB will test the rising trend line on the indicator of relative strength index (RSI). Cancellation of the growth option of the USD/RUB pair at Forex will be a fall and a breakdown of the level of 63.50 Rubles per Dollar, which will indicate support areas and the continuation of the fall of the Dollar Ruble to the area below the level of 62.20. Confirmation of the growth of the pair will be the breakdown of the resistance area and the close above the level of 66.10.
USD/RUB forecast Russian Ruble October 31, 2018 implies an attempt to test the support level near 65.00, from which we can expect a rebound and continued growth of the dollar against the ruble with a target above 67.50, the test of the trend line at the relative strength index (RSI), the cancellation of the growth option will be a breakdown of the support area and the closing of quotes below 63.50.