Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 85.55 rubles per US dollar. The pair continues to move within the framework of strong growth and a bullish channel. 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 February 28 — March 4, 2022, we should expect an attempt to develop a correction and test the support area near the level of 78.35. Where should we expect a rebound upwards and a continuation of the rise of the Dollar against the Russian Ruble above the level of 94.25.
USD/RUB Weekly Forecast February 28 — March 4, 2022
An additional signal in favor of the rise of the Dollar/Ruble pair will be a rebound from the lower border of the bullish channel. The second signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the growth option for the Dollar/Ruble pair will be a fall and a breakdown of the 74.25 area. This will indicate a breakdown of the support level and a continued fall in the US Dollar against the Russian Ruble with a target below the level of 68.55. Expect confirmation of the rise in the pair with a breakdown of the resistance area and closing of USD/RUB quotes above the level of 89.55, which will indicate a breakdown of the upper limit of the bullish channel, and this is another strong signal to buy the pair.
USD/RUB Weekly Forecast February 28 — March 4, 2022 suggests an attempt to test the support area near the level of 78.35. Where should we expect an attempt to increase the price and the exchange rate of the Dollar to the area above the level of 94.25. 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 to lift the dollar in the current trading week will be a fall and a breakdown of the area of 74.25. Which will indicate the continued decline of the pair with the target at the level of 68.55.
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