Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 62.90 Rubles per US Dollar. The pair continues to move within the framework of the fall and the bearish channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the US dollar and a likely continuation of the fall of the pair from these levels. In the current trading week May 16 — 20, 2022 we should expect an attempt to develop a bullish correction and test the resistance area near the level of 64.05. Where can we expect a rebound down and the continuation of the fall of the dollar against the Russian ruble with a target below the level of 48.05.
USD/RUB Weekly Forecast May 16 — 20, 2022
An additional signal in favor of the fall of the Dollar/Ruble pair will be a rebound from the upper limit of the bullish 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 79.05 area. This will indicate a breakdown of the resistance level and continued growth of the US Dollar against the Russian Ruble with a target above the level of 85.05. It is worth waiting for confirmation of the fall in the pair with the breakdown of the support area and the closing of USD/RUB quotes below the level of 59.05.
USD/RUB Weekly Forecast May 16 — 20, 2022 suggests an attempt to test the resistance area near the level of 64.05. Where should we expect a rebound down and the continuation of the fall of the fall of the dollar to the area below the level of 48.05. 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 79.05. Which will indicate the continuation of the rise of the pair with the target at the level of 85.05.
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