15 Jun 2015
USD/RUB drops to lows on CBR decision
FXStreet (Edinburgh) - The Russian ruble is now picking up pace vs. the dollar following the decision by the Russian central bank, with USD/RUB in sub-55.00 levels.
USD/RUB weaker despite CBR rate cut
The pair dipped to session lows near 54.80 after the CBR lowered its benchmark rate by 100 bp to 11.5%, broadly in line with market expectations. Despite the lower rates, the ruble is managing to keep its strength and taking spot to some sort of consolidating range around 55.00.
USD/RUB relevant levels
As of writing the pair is losing 0.49% at 54.91 with the next support at 54.24 (low Jun.12) ahead of 53.77 (low Jun.11) and then 52.77 (low Jun.3). On the upside, a break above 55.66 (high Jun.10) would expose 56.19 (high Jun.9) and finally 57.20 (high Jun.5).
USD/RUB weaker despite CBR rate cut
The pair dipped to session lows near 54.80 after the CBR lowered its benchmark rate by 100 bp to 11.5%, broadly in line with market expectations. Despite the lower rates, the ruble is managing to keep its strength and taking spot to some sort of consolidating range around 55.00.
USD/RUB relevant levels
As of writing the pair is losing 0.49% at 54.91 with the next support at 54.24 (low Jun.12) ahead of 53.77 (low Jun.11) and then 52.77 (low Jun.3). On the upside, a break above 55.66 (high Jun.10) would expose 56.19 (high Jun.9) and finally 57.20 (high Jun.5).