The currency pair US Dollar to Russian Ruble USD/RUB closed the current trading month at the level of 56.40 rubles to the US dollar. The Russian ruble shows a strong strengthening and was able to test the area 55 rubles per dollar. At the moment, the potential remains for the pair to rebound into the region of the nearest resistance near the level of 62 rubles per US dollar.
USD/RUB Forecast Dollar Ruble on April 2017
Breakdown of this level will indicate the end of the decline in the pair USD/RUB and the continued growth of the US dollar. In favor of the likely rebound of the pair’s quotes, the uptrend line test is used on the relative strength indicator, however, it is only with the breakdown of the downward trend line on the indicator that the trend is asserted. In the case of continued decline and breakdown of the region 55 rubles per dollar, we should expect the pair to continue falling into the area below the level of 50 rubles per US dollar.
Among the important news that could affect the exchange rate of the Russian ruble in April 2017, it is worth highlighting, the decision of the Bank of Russia on the key interest rate on April 28, 2017.
USD/RUB Forecast Dollar Ruble on April 2017 assumes a rebound attempt in the area above the level of 62 rubles per dollar as part of the support line test on the relative strength indicator.
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