Currency pair Dollar Ruble USD/RUB completes the trading week near the level of 91.60 Rubles per US Dollar. The pair continues to move within the growth and bullish channel. Moving averages indicate a bullish trend. Prices are again testing the area between the signal lines, 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 July 10 — 14, 2023, we should expect an attempt to develop a correction and test the support area near the level of 86.65. Where should we expect a rebound upwards and continued growth of the Dollar against the Russian Ruble with a target above the level of 105.05.
USD/RUB Weekly Forecast July 10 — 14, 2023
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 79.05 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 70.45. It is worth waiting for confirmation of the growth in the pair with a breakdown of the resistance area and the closing of USD/RUB quotes above the level of 94.65, which will indicate a breakdown of the upper limit of the bullish channel.
USD/RUB Weekly Forecast July 10 — 14, 2023 suggests an attempt to test the support area near the level of 86.65. Where should we expect a rebound upwards and the continuation of the growth of the dollar to the area above the level of 105.05. An additional signal in favor of this option will be a rebound from the bullish trend line on the relative strength index (RSI). Cancellation of the growth option for the dollar in the current trading week will be a fall and a breakdown of the 79.05 area. Which will indicate a continued decline in the pair with a target at the level of 70.45.
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