Currency pair US Dollar Russian Ruble USD/RUB continues to move within the framework of growth. At the moment, we should expect an attempt to test the support area near the level of 62.30 and continue the growth of the pair in the area above the level of 66.50, as part of the development of the «Head and Shoulders» reversal model.
USD/RUB forecast & technical analysis May 1, 2018
In favor of the growth of the pair USD/RUB will perform a test of the support line on the indicator of relative strength index (RSI). Cancellation of the growth option for the USD/RUB pair on FOREX will be a drop and breakdown of the level of 60.50 rubles per dollar, which will indicate the breakdown of the support area and the continuation of the fall of the Dollar/Ruble pair into the area below the level of 58.00. Confirmation of the upward trend in the pair will be the breakdown of the resistance area and the closing of quotations above the level of 63.30.
USD/RUB forecast & technical analysis May 1, 2018 suggests a try of a support level test near the area of 62.30, 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 65.50, an additional signal in favor of the pair’s growth will be a trend line test on the indicator of relative strength index (RSI).
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