USD/RUB eases from highs, remains above 65.00

The Russian currency is trading on a softer fashion today, with USD/RUB looking to extend the break above the key barrier at 65.00 the figure.

USD/RUB up on USD, oil drop

The pair’s upside is seeing its second advance in a row so far today, pushing spot to fresh 3-week tops in the proximity of 65.40 bolstered by the bullish note in the greenback.

Collaborating with the up move, the barrel of Brent crude has dropped to fresh lows near $48.20, shedding ground for the third consecutive session and removing tailwinds from RUB.

Ahead in the session US ADP report is due, with consensus seeing the private sector adding 171K during August.

USD/RUB levels to watch

At the moment the pair is up 0.03% at 65.27 and a surpass of 66.29 (high Jun.14) would open the door to 67.15 (high Jul.29) and then 68.84 (200-day sma). On the flip side, the next support aligns at 64.24 (low Aug.26) followed by 63.41 (low Aug.18) and finally 62.75 (2016 low Jul.14).