Currency pair US Dollar to Russian Ruble USD/RUB closes the trading week near the level of 66.84 Rubles for the US dollar. The pair continues to move within the framework of growth and development of the «Triangle» model. The ruble remains pending a new sanction, which could send the pair further up the lease to an area above the 75 level. As part of the technical analysis, it is currently expected to test the support area near the level of 65.00 and continue the pair’s growth above the level of 71.20.
USD/RUB weekly forecast & analysis August 20 — 24, 2018
In favor of the growth of the Dollar Ruble pair will test the trend line on the indicator of relative strength index (RSI), as well as rebound from the lower boundary of the bullish channel. Canceling the option of continuing the growth of the Dollar/Ruble pair will be the fall and breakdown of the area at 63.30, which will indicate the breakdown of the lower border of the channel and the continued depreciation of the US Dollar against the Russian Ruble. To expect confirmation of the bullish trend for the pair is with the breakdown of the resistance area and the closing of quotations above the level of 68.50.
USD/RUB weekly forecast & analysis August 20 — 24, 2018 assumes an attempt to test the support area near the level of 65.00, where we can expect the attempt of the Dollar to rise above 71.20, in favor of the pair growth, the trend line test on the relative strength index (RSI).
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