Currency pair US Dollar Russian Ruble USD/RUB continues to move within the framework of correction and formation of the «Triangle» model. At the time of publication of the forecast, the US Dollar rate to the Russian Ruble is 62.73. At the moment, we should expect an attempt to test the lower limit of the «Triangle» model near the level of 62.25 rubles for the US Dollar and start the pair’s growth in the area above the level of 65.60.
USD/RUB forecast & technical analysis August 2, 2018
In favor of the growth of the pair USD/RUB will perform a test of the support line on the indicator of relative strength index (RSI). Cancellation of the growth of the pair USD/RUB on Forex will be a drop and a breakdown of the level of 61.30 rubles per dollar, which will indicate the breakdown of the lower limit of the «Triangle» model and the continuation of the fall of the Dollar/Ruble pair into the area below the level of 60.00. Confirmation of the growth of the pair will be the breakdown of the upper limit of the «Triangle» model and the closing above the level of 64.00.
USD/RUB forecast & technical analysis August 2, 2018 suggests a try of a support level test near the area of 62.25, from which one should expect a rebound and an attempt to continue the growth of the US Dollar against the Russian Ruble rate with a target above 65.00, an additional signal in favor of the pair’s growth will be a trend line test on the indicator of relative strength index (RSI), the cancellation of the growth option will be the breakdown of the support area and the closing of quotations below the level of 61.30.