USD/RUB Slumps Below 66.00 on Oil Recovery
The demand for the Russian Rouble is now picking up further pace, sending USD/RUB to fresh daily lows in the 65.80 area.
USD/RUB lower on oil gains
Spot
is giving away part of yesterday’s strong rebound to the boundaries of
67.00 the figure, retreating to sub-66.00 levels in response to a better
tone surrounding crude oil prices, with the barrel of Brent up more
than 1% and trading in the $45.30 zone.
Data wise in Russia
throughout the week saw retail sales and the unemployment rate
disappointing expectations (Tuesday), while FX reserves held by the CBR
stayed almost unchanged at $386 billion (Thursday).
USD/RUB levels to watch
At
the moment the pair is down 1.64% at 65.73 facing the next support at
65.26 (2016 low Apr.13) ahead of 62.04 (monthly low Nov.4 2015) and then
60.70 (monthly low Oct.9 2015). On the other hand, a break above 67.02
(20-day sma) would aim for 68.49 (200-day sma) and finally 69.47 (high
Apr.5).
