Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 75.72 Rubles per US Dollar. The pair continues to move within the framework of the correction and the formation of the “Head and Shoulders” reversal pattern. 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 of February 21 — 25, 2022, we should expect an attempt to develop a rise and test the resistance area near the level of 77.65. Where can we expect a rebound down and a continuation of the fall of the dollar against the Russian ruble below the level of 67.65.
USD/RUB Weekly Forecast February 21 — 25, 2022
An additional signal in favor of the decline in 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 of falling the Dollar/Ruble pair will be a strong growth and a breakdown of the 82.05 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 85.65. It is worth waiting for confirmation of the fall in the pair with the breakdown of the support area and the closing of the USD/RUB quotes below the level of 73.35, which will indicate a breakdown of the lower border of the bullish correction channel.
USD/RUB Weekly Forecast February 21 — 25, 2022 suggests an attempt to test the resistance area near the level of 77.65. Where should we expect an attempt to drop the price and the dollar rate to the area below 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 of falling the dollar in the current trading week will be a strong growth and a breakdown of the area of 82.05. Which will indicate the continued rise of the pair with the target at the level of 85.65.
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