USD/RUB in multi-month tops near 60.80
The Russian Ruble is depreciating further vs. its American counterpart on Tuesday, lifting USD/RUB to the area of multi-month tops just below the 61.00 handle.
USD/RUB higher on oil losses, USD-buying
The continuation of the buying interest around the buck plus declining crude oil prices are collaborating with the selling bias in the pair, which has so far clinched the area below the 61.00 mark, levels last traded in early January and closer to 2017 tops around 61.30.
In addition, Brent crude is exchanging gains with losses today around the $47.00 mark per barrel, recovering some ground following yesterday’s dip to multi-day lows in the $46.00 neighbourhood and lending some support to RUB.
In the data space, Yellen’s testimony tomorrow plus CPI figures and retail sales for the month of June (Friday) will take centre stage in the US docket, while trade balance results and the weekly report on FX reserves held by the CBRF are only due in the Russian calendar.
USD/RUB levels to watch
At the moment the pair is up 0.95%% at 60.80 and a surpass of 61.28 (2017 high Jan.3) would open the door to 61.63 (high Dec.30 2016) and finally 62.49 (high Dec.16 2016). On the downside, the immediate support emerges at 59.79 (200-day sma) seconded by 59.77 (10-day sma) and then 59.22 (21-day sma).
