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USD/RUB retreated from historical highs to 38.30 area, ready for more

FXStreet (Moscow) - USD/RUB opened the trades at 38.42, and kept drifting down posting 38.33 session low.

Tax period

Although the start of Friday was not impressive, the Russian currency may still have some chances to recover in the nearest future thanks to the looming tax period that may force the exporters to repatriate its revenue. Besides, there are rumors in the market the EU may cancel part of the sanctions against Russia. Even if it’s not true, the possibility may help the pair to retreat closer to 38.00 area. The nearest target to the downside may lie at 38.29.

What are today’s key USD/RUB levels?

Today's central pivot point can be found at 38.46, with support below at 38.29, 38.13 and 37.97, with resistance above at 38.61, 38.78, and 38.94. Hourly Moving Averages are mixed, with the 200SMA bullish at 37.87 and the daily 20EMA bullish at 37.35. Hourly RSI is bearish at 44.

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