Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 79.39 Rubles per US Dollar. The pair continues to move within the growth and bullish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the US dollar and a likely continuation of the pair’s growth already from these levels. In the current trading week April 17 — 21, 2023, we should expect an attempt to develop continued growth and test the resistance area near the level of 82.55. Where can we expect a rebound down and a continuation of the fall of the dollar against the Russian ruble with a target below the level of 69.05.
USD/RUB Forecast Weekly Forecast April 17 — 21, 2023
An additional signal in favor of the decline in the Dollar/Ruble pair will be a rebound from the upper limit of the bullish channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option to reduce the USD/RUB pair will be a strong growth and a breakdown of the 93.55 area. This will indicate a breakdown of the resistance level and a continued rise in the US Dollar against the Russian Ruble with a target above the level of 98.05. It is worth waiting for confirmation of the fall in the pair with the breakdown of the support area and the closing of USD/RUB quotes below the level of 76.85.
USD/RUB Forecast Weekly Forecast April 17 — 21, 2023 suggests an attempt to test the resistance area near the level of 82.55. Where should we expect a rebound down and the continuation of the fall of the dollar to the area above the level of 69.05. An additional signal in favor of this option will be a rebound from the trend line on the relative strength index. Cancellation of the option to depreciate the Dollar in the current trading week will be a strong growth and a breakdown of the area of 93.55. Which will indicate the continuation of the rise of the pair with the target at the level of 98.05.
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