Currency pair US Dollar Russian Ruble USD/RUB continues to move within the framework of the formation of the «Triangle» model. At the time of publication of the forecast, the US dollar to the Russian Ruble rate is 68.08. At the moment, we should expect an attempt to test the lower limit of the «Triangle» model near the area of 67.35 Rubles for the US Dollar and continue the pair’s growth in the area above the level of 70.45.
USD/RUB forecast & technical analysis August 31, 2018
In favor of the growth of the pair USD/RUB, an uptrend line test will be performed on the indicator of relative strength index (RSI). Cancellation of the growth variant of the USD/RUB pair on Forex will be a drop and a breakdown of the level of 66.80 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 63.580. Confirmation of the growth of the pair will be a breakdown of the upper limit of the «Triangle» model and the closing above the level of 68.60.
USD/RUB forecast & technical analysis August 31, 2018 suggests a try of a support level test near the area of 67.35, from which it is expected to rebound and continue the growth of the Dollar against the Ruble rate with a target above the level of 70.45, an additional signal for the growth of the pair will be a trend line test on indicator of relative strength index (RSI), cancellation of the growth option will be the breakdown of the support area and the closing of quotations below the level of 66.80.
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