Currency pair US Dollar Russian Ruble USD/RUB continues to move within the framework of the formation of the «Head and Shoulders» reversal model. At this point, we should expect an attempt to test the resistance area near the level of 57.60 and continue falling of the pair in the area below the level of 55.70.
USD/RUB forecast & technical analysis April 3, 2018
In favor of the fall of the pair USD/RUB, breakdown of the bullish trend line on the indicator of relative strength index (RSI) will perform. The cancellation of the fall of the USD/RUB pair on Forex will result in a strong growth and breakdown at the level of 58.15 Rubles per US Dollar, which will indicate the breakdown of the resistance area and the continued growth of the US Dollar/Russian Ruble pair to an area above the level of 58.95. Confirmation of the bearish trend in the pair will be the breakdown of the support area and the closing of quotes below the level of 56.60, which indicates the completion of the formation of the reversal model.
USD/RUB forecast & technical analysis April 3, 2018 suggests a test of the resistance level near the area of 57.60, from which one should expect a rebound and an attempt to continue the fall of the US Dollar against the Russian Ruble rate with a target below 55.70, an additional signal in favor of the fall of the pair will be a breakdown of the trend line on the indicator of relative strength index (RSI).