USD/RUB advances to highs near 66.20

Pablo Piovano FXStreet

The Russian currency is depreciating further vs. the greenback on Friday, pushing USD/RUB to print fresh peaks near 66.20.

USD/RUB higher on oil drop, looks to Yellen

The pair has quickly left behind the critical barrier at 66.00 the figure, as the barrel of crude Brent has slipped further south of the $49.00 limestone, weighing on RUB.

The resurgence of the bid tone around the greenback has been also helping with today’s up move, which is already gaining over a cent since yesterday’s troughs in the 65.00 neighbourhood.

USD/RUB levels to watch

At the moment the pair is advancing 0.54% at 66.17 facing the next hurdle at 67.04 (55-day sma) ahead of 67.30 (high May 19) and finally 68.98 (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).

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Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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