Currency pair USD/RUBis trading at 71.15. Quotes of the pair are trading above the moving average with a period of 55. This indicates the presence of a bullish trend for pair Ruble/Dollar. At the moment, the quotes of the pair are moving near the upper border of the Bollinger Bands indicator stripes.
USD/RUB weekly forecast on July 6 — 10, 2020
As part of the forecast, the pair Dollar/Ruble is expected to test the level of 69.70. Where can we expect an attempt to continue the growth of the USD/RUB pair and further development of the upward trend. The purpose of this movement is the area near the level of 75.20. The conservative buying area for the USD/RUB pair is located near the lower border of the Bollinger Bands indicator strip at 68.00.
Cancellation of the option to continue the growth of the Dollar/Ruble pair will be a breakdown of the area of the lower border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of 66.50. This will indicate a change in the current trend in favor of bearish for USD/RUB. In case of breakdown of the upper border of the Bollinger Bands indicator bands, growth should be expected.
USD/RUB weekly forecast on July 6 — 10, 2020 implies a test level of 69.70. Further, growth is expected to continue to the area above the level of 75.20. The conservative buying area is located is near the area of 68.00. The cancellation of the growth option for the USD/RUB pair will be the breakdown of the level of 66.50. In this case, we should expect continued fall.