Currency pair US Dollar Russian Ruble USD/RUB continues movement within the framework of correction and start of «Triangle» development. At the time of publication of the forecast, the US dollar to the Russian Ruble rate is 64.65. At the moment, we should expect an attempt to test the upper limit of the model near the level of 63.75 rubles for the US dollar and continue the growth of the pair in the area above the level of 66.55.
USD/RUB forecast & technical analysis August 9, 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). Canceling the growth of the pair USD/RUB on Forex will be a drop and a breakdown of the level of 63.00 rubles per dollar, which indicates the breakdown of the upper limit of the «Triangle» model and the continuation of the fall of the Dollar Ruble pair into the area below 62.00. Confirmation of the growth of the pair will break through the resistance area and close above the level of 65.50.
USD/RUB forecast & technical analysis August 9, 2018 suggests a test of the support level near the area of 63.75, 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 66.55, an additional signal in favor of the pair’s growth will be a trend line test on the indicator of relative strength index (RSI).