The Russian currency is losing over 1% against the greenback on Tuesday, 1uickly pushing USD/RUB beyond the critical 59.00 handle to as high as 59.40 for the time being.
USD/RUB up on Brent losses
RUB selling gathered extra steam today after the barrel of Brent crude plummeted to fresh 7-month lows in sub-$46.00 levels, hurt by rising concerns over the supply glut in the oil markets.
In the domestic data space, Russian retail sales expanded more than expected 0.7% on a year to May, while the unemployment rate ticked lower to 5.2% during the same period.
USD/RUB levels to watch
At the moment the pair is up 1.24%% at 59.24 and a surpass of 59.61 (high Mar.14) would expose 59.85 (200-day sma) and finally 60.61 (high Jan.23). On the other hand, the next support emerges at 58.19 (low Jun.20) seconded by 57.35 (100-day sma) and finally 56.90 (55-day sma).
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