Back
29 Dec 2014
USD/RUB hits fresh daily highs
FXStreet (Mumbai) - The Russian ruble weakened against the US dollar today, snapping its biggest weekly rally in sixteen years.
Currently, USD/RUB trades at fresh daily’s high levels of 56.50, gaining 5.61%, on the day recovering from more than two-week low of 51.60 on Friday. The ruble slumped against the US dollar as traders opined that the official measures adopted by the Russian authorities to halt the slide in its currency, may take longer to materialize in terms of boosting the ruble as well as investors' sentiments.
The launch of yet another ruble-strengthening measure by Russia’s central bank on Wednesday also failed to provide any relief to the Russian currency against the US dollar.
USD/RUB Technical Levels
To the upside, the next resistance is located at 58 levels and above which it could extend gains to 61 levels. To the downside, immediate support might be located at 52.87 (Dec 23 Low) and below that at 50 levels.
Currently, USD/RUB trades at fresh daily’s high levels of 56.50, gaining 5.61%, on the day recovering from more than two-week low of 51.60 on Friday. The ruble slumped against the US dollar as traders opined that the official measures adopted by the Russian authorities to halt the slide in its currency, may take longer to materialize in terms of boosting the ruble as well as investors' sentiments.
The launch of yet another ruble-strengthening measure by Russia’s central bank on Wednesday also failed to provide any relief to the Russian currency against the US dollar.
USD/RUB Technical Levels
To the upside, the next resistance is located at 58 levels and above which it could extend gains to 61 levels. To the downside, immediate support might be located at 52.87 (Dec 23 Low) and below that at 50 levels.