Currency pair US Dollar to Russian Ruble USD/RUB closes the trading week near the level of 63.15 Russian Ruble for the US Dollar. The pair continues to move within the framework of correction and formation of the «Triangle» model. At the moment, we should expect a test of the support area near the level of 62.40 and the continuation of the pair’s growth above the level of 66.40.
USD/RUB weekly forecast & analysis August 6 — 10, 2018
In favor of the growth of the Dollar/Ruble pair will test the trend line on the indicator of relative strength index (RSI). Canceling the option of continuing the growth of the Dollar/Ruble pair will be a drop and breakdown of the area of 61.20, which will indicate the breakdown of the lower limit of the Triangle model and the continued depreciation of the US Dollar against the Russian Ruble. To expect confirmation of the upward trend in the pair is with the breakdown of the upper limit of the «Triangle» model and the closing of quotations above the level of 64.00.
USD/RUB weekly forecast & analysis August 6 — 10, 2018 suggests a test of the support area near the level of 62.40, where we can expect the attempt of the US Dollar growth to the area above the level of 66.40, in favor of the pair growth, the trend line test on the relative strength indicator, the variant of the Dollar’s growth on the current trading week will be the fall and breakdown of the area of 61.20, which will indicate the continuation of the pair’s decline.