Currency pair US Dollar to Russian Ruble USD/RUB ends the trading week near the level of 73.62 Rubles per US Dollar. The pair continues to move within the correction and the bearish channel. Moving averages indicate a downtrend. The prices broke through the area between the signal lines upward, which indicates pressure from the US dollar buyers and the likely continuation of the pair’s growth from these levels. In the current trading week, December 20 — 24, 2021 we should expect an attempt to develop a bullish correction and a test of the resistance area near the level of 74.35. Where can we expect a rebound down and a continuation of the fall in the dollar rate against the Russian Ruble below the level of 68.45.
USD/RUB Weekly Forecast December 20 — 24, 2021
An additional signal in favor of the fall of the Dollar/Ruble pair will be a rebound from the upper border of the descending channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option to drop the Dollar/Ruble pair will be a strong one and a breakdown of the 77.55 area. This will indicate a breakdown of the resistance level and continued growth in the US Dollar against the Russian Ruble with a target above 79.85. It is worth waiting for confirmation of a fall in the pair with the breakdown of the support area and closing of the USD/RUB quotes below 71.45.
USD/RUB Weekly Forecast December 20 — 24, 2021 implies an attempt to test the resistance area near the level of 74.35. Where can we expect an attempt to drop the price and the Dollar rate to an area below the level of 68.45. An additional signal in favor of reducing this option will be a rebound from the trend line on the relative strength index (RSI). Cancellation of the option to drop the dollar rate in the current trading week will be a strong growth and a breakdown of the 77.55 area. This will indicate a continued rise in the pair with a target at 79.85.
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