USD/RUB off highs back to 66.60

The Russian currency has regained attention on Tuesday, prompting USD/RUB to deflate from earlier tops just above the 67.00 handle.

USD/RUB lower on oil recovery

RUB gained further traction after testing lows in the 67.00 neighbourhood vs. its American peer, returning to the 66.60 area as the ongoing rebound in crude oil prices has pushed the barrel of Brent crude to the vicinity of the $43.00 mark.

Later in the session, US Personal Income/Spending and PCE figures will re-focus the attention on the greenback, whereas the Russian calendar ahead in the week includes: Services PMI (Wednesday), weekly CBR reserves and CPI figures (Thursday).

USD/RUB levels to watch

At the moment the pair is retreating 0.41% at 66.62 facing the next support at 65.99 (100-day sma) followed by 64.69 (20-day sma) and finally 62.75 (2016 low Jul.14). On the other hand, a break above 67.15 (high Jul.29) would aim for 67.67 (high Jun.2) and then 68.76 (200-day sma).