Currency pair USD/RUB US Dollar to Russian Ruble is trading at 58.43 Rubles per Dollar. The pair is trading above the upper border of the Cloud indicator Ichimoku Kinko Hyo. This indicates the presence of a bullish trend for the pair US Dollar Russian Ruble. As part of the USD exchange rate forecast for today August 31, 2022. A fall is expected to develop and test the lower border of the Ichimoku Kinko Hyo indicator cloud near the level of 56.65. Where should we expect a rebound and continued growth of the USD/RUB pair with a target at 69.55.
Russian Ruble Forecast USD/RUB August 31, 2022
An additional signal in favor of the growth of the Dollar against the Russian Ruble on August 31, 2022 will be a rebound from the support area on the price chart. The second signal will be a breakdown of the upper boundary of the Triangle model. Earlier, a signal of medium strength was received for selling the pair US Dollar Russian Ruble. The signal was formed due to the crossing of the signal lines at the level of 57.05.
Cancellation of the growth option for the quotes of the USD/RUB currency pair and the Ruble exchange rate will be the fall of the Dollar against the Russian Ruble and the breakdown of the upper border of the Ichimoku Kinko Hyo Cloud with closing quotes below the level of 54.05. This option will indicate a change in the bullish trend in favor of the bearish trend and the continuation of the fall of the Dollar against the Russian Ruble with a potential target at 48.45. It is worth expecting an acceleration in the growth of the USD/RUB pair with a breakdown of the resistance area and closing of asset quotes above the level of 61.95, which will indicate a breakdown of the upper border of the “Triangle” model and the beginning of the development of this model.
Russian Ruble Forecast USD/RUB August 31, 2022 suggests an attempt to test the support area near the level of 56.65. Where should we expect the currency pair to continue to grow with a potential target near the level of 69.55. Cancellation of the option to lift the pair will be a breakdown of the area of 54.05. This will indicate a continued fall in the US Dollar against the Russian Ruble with a potential target below 48.45.
