USD/RUB rebounds from 59.00, stays in multi-month lows

The Russian ruble has given away its earlier gains vs. its American peer on Friday, with USD/RUB coming up after testing fresh lows near 59.00 the figure.

USD/RUB eyes on NFP, Brent

RUB dropped to the vicinity of the 59.00 handle earlier in the session, levels last traded in July 2015, although the upside momentum seems to have run out of steam for the time being.

Adding to RUB buying, the barrel of Brent crude is extending its rebound from weekly lows seen on Tuesday around the $53.30 area, now clinching highs above the $57.00 mark amidst some recovery in the greenback.

Later in the NA session, the current downside will be put to the test as US Non-farm Payrolls are due, with consensus expecting the economy to have created almost 180K jobs during last month, although most of the attention should be on the performance of wage inflation via the Average Hourly Earnings.

USD/RUB levels to watch

At the moment the pair is retreating 0.15% at 59.35 facing the next support at 59.11 (low Jan.6) followed by 58.57 (low Jul.29 2015) and then 56.20 (low Jul.10 2015). On the other hand, a break above 61.02 (20-day sma) would expose 61.63 (high Dec.20) and then 62.49 (high Dec.18).