Currency pair US Dollar to Russian Ruble USD/RUB ends the trading week near the level of 74.53 Rubles per US Dollar. The pair continues to move within the framework of growth and has left 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 January 3 — 7, 2022 we should expect an attempt to develop a correction and a test of the support area near the level of 71.65. Where can we expect an upward rebound and continued growth in the dollar rate against the Russian Ruble above the level of 80.05.
USD/RUB Weekly Forecast January 3 — 7, 2022
An additional signal in favor of the growth 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), which has been broken upwards. Cancellation of the option to raise the pair Dollar/Ruble will be a fall and a breakdown of the area of 69.25. This will indicate a breakdown of the support level and a continued decline in the US Dollar against the Russian Ruble with a target below 67.05. It is worth waiting for confirmation of a rise in the pair with the breakdown of the resistance area and closing of the USD/RUB quotes above the level of 75.55.
USD/RUB Weekly Forecast January 3 — 7, 2022 suggests an attempt to test the support area near the level of 71.65. Where can we expect an attempt to increase the price and the Dollar rate to the area above the level of 80.05. An additional signal in favor of the growth of this option will be a rebound from the trend line on the relative strength index (RSI). Cancellation of the option to raise the dollar rate in the current trading week will be a fall and a breakdown of the 69.25 area. This will indicate a continued decline in the pair with a target at 67.05.
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