Currency pair US Dollar Russian Ruble USD/RUB continues to move within the limits of the decline. At the time of publication of the forecast, the US Dollar to the Russian Ruble rate is 62.26. At this point, we should expect an attempt to test the resistance area near the level of 62.45 Ruble for the US Dollar and continue falling of the pair in the area below the level of 60.80.
USD/RUB forecast & technical analysis July 17, 2018
In favor of reducing the pair USD/RUB, a downtrend test on the relative strength index (RSI) will perform, as well as a test of the upper boundary of the bearish channel. The cancellation of the fall of the USD/RUB pair on Forex will result in a strong growth and breakdown of the level of 62.95 Rubles per Dollar, which will indicate the breakdown of the upper border of the channel and the continued growth of the Dollar/Ruble pair to an area above 64.15. Confirmation of the fall of the pair will be the breakdown of the support area and the closure below the level of 61.50.
USD/RUB forecast & technical analysis July 17, 2018 suggests a test of the resistance level near the area of 62.45, from which one should expect a rebound and an attempt to continue the decline of the US Dollar against the Russian Ruble rate with a target below 60.80, an additional signal in favor of the pair’s fall will be the trend line test on the indicator of relative strength index (RSI), the cancellation of the growth option will be a breakdown of the upper boundary of the bearish channel and the closing of quotations above the level of 62.95.
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