Currency pair US Dollar Russian Ruble USD/RUB continues to move within the framework of correction and formation of the «Triangle» model. At this point, we should expect an attempt to test the support area near the level of 61.40 and continue the growth of the pair in the area above the level of 64.50.
USD/RUB forecast & technical analysis May 16, 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 fall and breakdown of the level of 60.30 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 59.00. Confirmation of the growth of the pair will be the breakdown of the upper limit of the model and the closing above the level of 63.90.
USD/RUB forecast & technical analysis May 16, 2018 suggests a try of a support level test near the area of 61.40, from which one should expect a rebound and an attempt to continue the growth of the Dollar against the Ruble rate with a target above 64.50, an additional signal in favor of the pair’s growth will be a trend line test on the indicator of relative strength index (RSI).