USD/RUB advances to highs in the mid-66.00s

The greenback is posting moderate gains vs. the Russian currency on Thursday, lifting USD/RUB to fresh tops in the 66.50 area.

USD/RUB focus on oil, CPI

The pair is snapping a 2-day negative streak today, advancing to the mid-66.00s ahead of the publication of July’s inflation figures in the Russian economy and FX reserves held by the CBR.

Adding to RUB selling, it seems that crude oil prices have resumed the downside after yesterday’s rebound, with the barrel of Brent crude now retreating to the $42.50/45 band.

USD/RUB levels to watch

At the moment the pair is gaining 0.32% at 66.47 facing the next hurdle at 67.15 (high Jul.29) followed by 67.67 (high Jun.2) and then 68.83 (200-day sma). On the other hand, a breakdown of 65.90 (100-day sma) would expose 64.89 (20-day sma) and finally 62.75 (2016 low Jul.14).