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USD/RUB drop to lows near 63.90 on CBR

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The Russian ruble is gathering pace vs. the greenback on Friday, now dragging USD/RUB to lows near 63.90.

    USD/RUB weaker post-CBR decision

    The pair has seen its decline accelerated after the Russian central bank (CBR) has left unchanged its benchmark rate for the second consecutive month at 11.0% at today’s meeting, in line with market expectations.

    RUB has recently picked up pace boosted by the solid performance of crude oil prices, sending the pair lower from recent tops around the 65.50 area.

    USD/RUB levels to watch

    The pair is now retreating 0.26% at 64.03 with the next support at 63.49 (100-day sma) followed by 63.29 (76.4% of 71.66-60.70) and finally 60.70 (low Oct.1). On the flip side, a break above 64.91 (55-day sma) would open the door to 67.84 (38.2% of 71.66-60.70) and then 69.32 (high Sep.7).
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