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Ruble hit another all-time low, as tax period finished

FXStreet (Moscow) - USD/RUB opened the trades with a gap higher at 38.67, and continued the move higher posting all-time high at 38.96 in the first hours; it is currently trading at 38.85.

Tax period is gone

The Russian currency got help from the tax period during the last days, as exporters increased the demand on the national currency. However, the main bulk of tax payments occurred on Thursday, thus leaving the Russian currency without any factors of support at the moment, and sending it to historically low levels again. The continued USD strength coupled with weakening oil prices are additional arguments in favor of the ruble selling. As of writing, USD/RUB is trading at 38.85, retreating from all-time high posted at 38.96 half an hour ago.

What are today’s key USD/RUB levels?

Today's central pivot point can be found at 38.40, with support below at 38.26, 38.03 and 37.89, with resistance above at 38.90 and 39.01. Hourly Moving Averages are bullish, with the 200SMA flat at 38.46 and the daily 20EMA bullish at 37.79. Hourly RSI is bearish at 16.

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