USD/RUB testing session tops near $63.00

The Russian currency depreciates to the vicinity of the $63.00 handle.
CBR kept rates on hold at 7.25% at today’s meeting.
US advanced Consumer Sentiment next on tap.

Pablo Piovano FXStreet

The Russian Ruble is losing ground vs. its American counterpart at the end of the week, pushing USD/RUB to the vicinity of the $63.00 handle.

USD/RUB higher after on hold CBR

The pair is trading in fresh 2-day peaks near the $63.00 handle, as the RUB is deriving some selling pressure on softer crude oil prices and the recent steady stance from the CBR.

In fact, the barrel of European reference Brent crude is now down near 2% in the $74.60 region, collaborating with the selling mood around RUB.

In addition, the Russian central bank (CBR) kept its monetary status quo unchanged earlier in the day, leaving the repo rate at 7.25%, as widely expected.

USD/RUB levels to watch

At the moment the pair is up 0.41% at 62.86 and a break above 63.89 (high Apr.10) would expose 65.01 (2018 high Apr.11). On the other hand, the next support aligns at 60.61 (low Apr.19) seconded by 59.25 (21-week sma) and then 58.23 (200-day sma).

Author

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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