Currency pair US Dollar Russian Ruble USD/RUB continues to move within the bullish channel. At this point, we should expect an attempt to test the resistance area near the level of 57.60 and continue the fall of the pair in the area below the level of 55.90 as part of the development of the reversal model «Head and Shoulders».
USD/RUB forecast & technical analysis March 23, 2018
In favor of the fall of the pair USD/RUB, a trend line test will be performed on the indicator of relative strength. Canceling the growth of the pair USD/RUB on Forex will be a strong growth and a breakdown of the level of 58.05 Rubles per US Dollar, which will indicate the breakdown of the resistance area and the continued growth of the Dollar/Ruble pair to the area above the level of 58.95. Confirmation of a downward trend in the pair will be the breakdown of the support area and the closing of quotations below the level of 56.50.
USD/RUB forecast & technical analysis March 23, 2018 suggests a test of the resistance level near the area of 57.60, from which one should expect a rebound and an attempt to continue the fall of the US Dollar against the Ruble with a target below 55.90, an additional signal in favor of the fall of the pair will be the trend line test on the indicator of relative strength index (RSI).
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