USD/RUB clinches highs near 63.20

The Russian ruble is now losing momentum vs. the greenback, lifting USD/RUB to daily highs in the 63.20 area.

USD/RUB bounces off 62.75

After bottoming out in fresh 2016 lows near 62.70 on Thursday, spot has now regained the 63.00 handle and above despite the barrel of Brent crude is shedding over 1% to levels sub-$47.00.

In the meantime, USD has trimmed earlier losses and is now approaching the positive territory, sustaining the up move in the pair.

On the data front, US releases will come to the fore later, with CPI figures, Retail Sales, Reuters/Michigan index and Business Inventories amongst the salient points.

In Russia, CBR’s FX reserves ticked a tad higher to $394.7 billion WoW vs. $393.7 billion.

USD/RUB levels to watch

At the moment the pair is advancing 0.58% at 63.19 facing the next support at $62.75 (2016 low Jul.14) followed by 62.04 (monthly low Nov.2015) and then 60.70 (monthly low Oct.2015). On the other hand, a surpass of 64.10 (20-day sma) would expose 65.80 (high Jul.6) and finally 67.67 (high Jun.2).