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 62.61. At this point, we should expect a test of the support area near the level of 62.55 Ruble for the US dollar and the pair began to grow in the area above the level of 66.00.
USD/RUB forecast & technical analysis July 31, 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 variant of the USD/RUB pair on Forex will be a drop and a breakdown of the level of 61.40 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 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 64.05.
USD/RUB forecast & technical analysis July 31, 2018 assumes a try of a support level test near the area of 62.55, from which one should expect a rebound and an attempt to continue the growth of the US Dollar against the Ruble rate with a target above 66.00, an additional signal in favor of the pair’s growth will be a 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 quotations below the level of 61.40.