OctaFX | OctaFX Forex Broker
Open trading account

Ruble keeps refreshing historical lows

FXStreet (Moscow) - USD/RUB opened the trades with a gap higher at 39.27, and continued the move up posting all-time high at 39.58 in the first hours; it is currently trading just a couple of pips below the record.

Selling with vigour

The Russian currency is sold-off, and it looks like without any particular reason, except for the USD strength. One of the factors of pressure may also come from the recent ruble strength due to tax period. Now, when all the payments are done, the investors rushed back to buy USD with renewed vigour. Besides, the sliding Brent price pours the oil to the fire, as Russian dependency on the oil export makes the ruble sensitive to energy market moves. Brent is testing $96 support at the moment, while USD/RUB is trying to break through 39.60 resistance area.

What are today’s key USD/RUB levels?

Today's central pivot point can be found at 39.38, with support below at 38.93, 38.67 and 38.22, with resistance above at 39.64 and 40.09. Hourly Moving Averages are bullish, with the 200SMA at 38.53 and the daily 20EMA bullish at 37.92.

United Kingdom M4 Money Supply (YoY): -1.5% (August) vs previous -1%

Read more Previous

ECB expected to unveil modalities around ABS purchase scheme - BNZ

According to Spiros Papadopoulos from BNZ, the ECB most probably won't make further adjustments to monetary policy at the Thursday meeting but could present the details of the Asset Backed Securities program announced last month.
Read more Next
Start livechat