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 to the Russian Ruble rate is 63.60. At the moment, we should expect an attempt to test the support area near the level of 63.35 Russian Ruble for the US Dollar and start the pair’s growth in the area above the level of 65.75.
USD/RUB forecast & technical analysis August 7, 2018
In favor of the growth of the pair USD/RUB, a breakdown of the resistance line will occur on the indicator of relative strength index (RSI). Canceling the growth of the pair USD/RUB on Forex will be a drop and a breakdown of the level of 61.50 rubles per dollar, which will indicate the breakdown of the lower boundary 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 64.20.
USD/RUB forecast & technical analysis August 7, 2018 assumes a try of a support level test near the area of 63.35, 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 65.75, an additional signal in favor of the pair growth will be the 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 quotes below the level of 61.50.