USD/RUB climbs to highs near 65.70
|USD/RUB remains unable to gather further steam today, meandering in a narrow range in the mid-65.00s.
USD/RUB ignores oil gains
The pair is posting moderate gains in spite of a broad-based selling sentiment around the US dollar and fresh multi-month highs in the barrel of the Brent crude, trading above the critical $50.00 mark.
Spot is thus reverting part of the weekly downside, snapping a 2-day negative strike and finding decent support in the 65.00 neighbourhood.
Data wise in the Russian docket, the FX reserves held by the central bank (CBR) dropped to $388.3 billion from $390.3 billion.
USD/RUB levels to watch
At the moment the pair is advancing 0.30% at 65.68 facing the next hurdle at 67.13 (55-day sma) ahead of 67.30 (high May 19) and finally 68.97 (200-day sma). On the flip side, a breakdown of 65.04 (low May 26) would open the door to 64.00 (2016 low Apr.29) and then 62.04 (monthly low Nov.4 2015).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.