The ruble in the coming week will depend on the dynamics of oil prices. USD/USD may continue to decline, provided that the quotations of “black gold” will continue to grow.
A positive factor for the Russian currency began its weekly report on oil reserves in the US, which recorded a decrease of reserves by 5.9 million barrels in anticipation of a growth of 1.2 million barrels.
Technical analysis of USD/RUB and the forecast of the ruble for a week
On the daily chart EUR/USD: the RSI broke the trend line, which signals for further declines. However, the dollar has been attempting to return to the area of local highs. The main resistance remains mark 71,30. The forecast for the week 28.12.2015 — 31.12.2015 involves movement to the lower boundary of the rising channel.
The ruble may get support from oil prices. Brent crude retreated from multi-year lows, which was positively reflected in dynamics of the Russian currency, which strengthened in pair USD/USD to the level 69,33 rubles per dollar. On the weekly chart Brent appeared signals for a reversal. The RSI has reversed from the support level and weekly candle indicates a continuation of the bounce after new lows.
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