USD/RUB drops further to 65.30 on oil gains

The Russian ruble is appreciating further vs. the greenback at the beginning of the week, sending USD/RUB to fresh lows near the 65.00 handle.

USD/RUB lower post-CPI, oil

RUB remains supported by a better tone in crude oil prices, lifting the barrel of crude Brent near the $51.00 mark amidst USD weakness and the likeliness of disruptions in Nigerian output.

Data wise in Russia, inflation figures tracked by the CPI showed consumer prices rose in line with expectations 0.4% on a monthly basis in May and 7.3% over the last twelve months.

USD/RUB levels to watch

At the moment the pair is retreating 0.48% at 65.29 facing the next support at 65.04 (low May 26) followed by 64.00 (2016 low Apr.29) and then 62.04 (monthly low Nov.4 2015). On the other hand, a surpass of 66.58 (55-day sma) would expose 67.67 (high Jun.2) and finally 68.92 (200-day sma).