USD/RUB Off 2016 Lows, Retakes 65.00

USD/RUB Off 2016 Lows, Retakes 65.00

21 April 2016, 11:17
Roberto Jacobs
0
69

USD/RUB Off 2016 Lows, Retakes 65.00

The Russian Rouble is now surrendering part of its recent gains vs. the dollar, with USD/RUB advancing to session highs near 65.40.

USD/RUB focus on oil

The pair is posting gains for the first time after three consecutive pullbacks, backed by a now softer tone around crude oil prices and coming down from post-Doha tops near 68.80 on Monday.

The barrel of Brent crude is now deflating from previous tops above the $46.00 mark, returning to the $45.70 area amidst a renewed buying interest in the greenback, all collaborating with the daily upside.

Data wise later, the CBR will publish its FX reserves, while Initial Claims and the manufacturing index gauged by the Philly Fed are expected in the US economy.

USD/RUB levels to watch

At the moment the pair is up 0.21% at 65.32 facing the next resistance at 67.08 (20-day sma) followed by 69.47 (high Apr.5) and then 68.44 (200-day sma). On the other hand, a breakdown of 64.65 (2016 low Apr.20) would open the door to 62.04 (monthly low Nov.4 2015) and then 60.70 (monthly low Oct.9 2015).


fxs_logo_news.png