Currency pair US Dollar Russian Ruble USD/RUB continues to move within the framework of a downward correction and formation of the «Triangle» model. At the time of publication of the forecast, the US Dollar to the Russian Ruble rate is 67.35. At this point, we should expect an attempt to test the lower limit of the channel near the area of 66.95 rubles for the US dollar and the continued growth of the pair in the area above the level of 70.00.
USD/RUB forecast & technical analysis August 22, 2018
In favor of the growth of the pair USD/RUB, a trend line test will be performed on the indicator of relative strength index (RSI). Cancellation of the growth option for the USD/RUB pair on Forex will be a drop and a breakdown of the level of 66.20 Rubles per US Dollar, which will indicate the breakdown of the lower boundary of the rising channel and the continuation of the fall of the Dollar/Ruble pair into the area below the level of 63.50. 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 67.80.
USD/RUB forecast & technical analysis August 22, 2018 assumes a try of a support level test near the area of 66.95, 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 the level of 70.00, an additional signal in favor of the pair growth will be a trend line test on the indicator of relative strength index (RSI), the cancellation of the growth scenario will be the breakdown of the support area and the closing of quotations below the level of 66.20.
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