USD/RUB weaker post-CBR decision

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The Russian currency keeps the buoyant tone at the end of the week, with USD/RUB now testing the 75.80/85 band.

    USD/RUB lower after CBR

    RUB gathered further steam after the Russian central bank (CBR) left its monetary policy unchanged at today’s meeting, with the refi rate at 11.0%. The central bank’s decision was broadly in line with market expectations.

    The central bank has also argued that volatility around RUB is largely due to crude oil prices, while it now sees the inflation slowing after the second quarter.

    USD/RUB levels to watch

    At the moment the pair is losing 0.68% at 75.90 facing the next support at today’s low at 74.62 followed by 71.84 (55-day sma) and finally 69.03 (8-month uptrend). On the other hand, a breakout of 82.32 (high Jan.26) would aim for 82.47 (high Jan.20) and then 85.99 (historical high Jan.21).
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