Currency pair US Dollar/Russian Ruble USD/RUB continues to move within the correction and the bullish channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 57.25. Moving averages indicate the presence of a short-term bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the US currency and a potential continuation of the fall of the US Dollar against the Russian Ruble. As part of the USD exchange rate forecast for September 29, 2022, we should expect an attempt to develop a bullish price correction and a test of the resistance level near the area of 57.85 rubles per US Dollar. Then, a rebound down and the continuation of the fall of the currency pair to the area below the level of 49.35.
USD/RUB Forecast Russian Ruble September 29, 2022
An additional signal in favor of the fall of the USD/RUB currency pair on September 29, 2022 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel, which was broken down by the sellers. Cancellation of the option of falling the USD/RUB pair on Forex will be a strong growth in quotes and a breakdown of the level of 61.95 rubles per dollar. This will indicate a breakdown of the resistance area and continued growth of the Dollar/Ruble pair to the area below the level of 63.75. The fall of the pair will be confirmed by a breakdown of the support area and closing of the asset quotes below the level of 52.85, which will indicate a breakdown of the lower border of the bullish channel.
USD/RUB Forecast Russian Ruble September 29, 2022 suggests an attempt to test the resistance level near the area of 57.85. Where should we expect a rebound and a continuation of the fall of the dollar against the ruble with a target below the level of 49.35. An additional signal in favor of the pair’s decline 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 quotes above the level of 61.95. In this case, we should expect the continuation of the rise in the US dollar against the Russian currency to the level of 63.75.
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