USD/RUB keeps highs near 64.40 on oil drop

The steady stance around the greenback plus the renewed downside pressure in crude oil prices is sending USD/RUB to the 64.40 area, fresh daily peaks.

USD/RUB higher on Brent drop

Crude oil prices have reverted Thursday’s strong advance today, with the barrel of Brent crude deflating from yesterday’s tops just above the key 450.00 mark, currently shedding more than 1.5% in the vicinity of the $49.00 mark and thus removing support from the Russian currency.

Spot is advancing for the first time since Friday, coming down from the vicinity of the 66.00 handle although some decent support seems to have emerged at yesterday’s lows in the mid-63.00s.

USD/RUB levels to watch

At the moment the pair is advancing 0.55% at 64.33 facing the next support at 63.58 (low Sep.8) followed by 63.41 (low Aug.18) and finally 62.75 (low Jul.14). On the other hand, a break above 65.05 (100-day sma) would aim for 65.97 (high Sep.1) and then 66.29 (high Jun.14).