The currency pair Hryvnia Dollar USD/UAH continues to move as part of the growth and the bullish channel. Moving averages indicate the presence of a short-term bullish trend for the pair. Prices have gone up from the area between the signal lines, which indicates pressure from buyers of the US currency and a potential continuation of the pair’s growth from current levels. At the time of publication of the forecast, the hryvnia exchange rate against the dollar is 29.24. At the moment, we should expect an attempt to develop a downward correction and a test of the support level near the area of 28.75 Hryvnia per US Dollar. Then, a rebound upwards and the continuation of the growth of the currency pair to the area above the level of 32.00.
USD/UAH Forecast Ukrainian Hryvnia March 1, 2022
An additional signal in favor of the rise of the USD/UAH currency pair on Forex will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower bullish channel. Cancellation of the growth option for the USD/UAH currency pair on Forex on March 1, 2022 will be a fall and a breakdown of the level of 27.55 Hryvnia per Dollar. This will indicate a breakdown of the support area and the continuation of the fall of the USD/Hryvnia pair to the area below the level of 26.05. The rise of the currency pair will be confirmed by the breakdown of the resistance area and the closing of the instrument quotes above the level of 30.00.
USD/UAH Forecast Ukrainian Hryvnia March 1, 2022 suggests an attempt to test the support level near the area of 28.75. Where should we expect a rebound and a continuation of the fall of the hryvnia against the dollar with a target below the level of 32.00. An additional signal in favor of the pair’s decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a breakdown of the resistance area and closing of quotes above the level of 27.55. In this case, we should expect a continuation of the fall with the target above the 26.00 area.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
