Currency pair US Dollar to Russian Ruble USD/RUB closes the trading week near the level of 67.82 Rubles per US Dollar. The pair continues to move within the framework of growth. The ruble rate remains pending a new sanction that could send the pair further up the trend to an area above the level of 75. As part of the technical analysis, on the current trading week on August 27 — 31, 2018, we expect a support area test near the level of 66.20 and continuation of the pair above 72.35.
USD/RUB weekly forecast & analysis August 27 — 31, 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 region of 63.50, 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 development of the bullish trend for the pair is with the breakdown of the resistance area and the closing of the USD/RUB quotations above the level of 69.00.
USD/RUB weekly forecast & analysis August 27 — 31, 2018 suggests an attempt to test the support area near the level of 66.20, where we can expect the attempt of the USD growth to the area above the level of 72.35, in favor of the pair’s growth, the trend line test on the indicator of relative strength index (RSI).
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