28 Jul 2014
USD/RUB posted 3-month high, as EU sanctions looming
FXStreet (Moscow) - USD/RUB opened the day with a gap higher at 35.29, and kept rising reaching almost 3-month high at 35.38, as recent events pressure the Russian Ruble.
If the EU follows the USA
The pair refreshed the highs at 35.38 not seen from early May on concerns that new round of sanctions will be aimed at the whole sectors, and may send the Russian economy to prolonged recession. The USA already presented the number of measures targeted on the state banks’ ability to finance its obligations. If the EU takes steps in the same direction, the pair may go on rising breaking 35.40 area and targeting 36.00 in medium term.
What are today’s key USD/RUB levels?
Today's central pivot point can be found at 35.38, with support below at 35.05, 34.96 and 34.87, with resistance above at 35.24, 35.33, and 35.41. Hourly Moving Averages are bullish, with the 200SMA at 34.95 and the daily 20EMA bullish at 34.68. Hourly RSI is bullish at 71.
If the EU follows the USA
The pair refreshed the highs at 35.38 not seen from early May on concerns that new round of sanctions will be aimed at the whole sectors, and may send the Russian economy to prolonged recession. The USA already presented the number of measures targeted on the state banks’ ability to finance its obligations. If the EU takes steps in the same direction, the pair may go on rising breaking 35.40 area and targeting 36.00 in medium term.
What are today’s key USD/RUB levels?
Today's central pivot point can be found at 35.38, with support below at 35.05, 34.96 and 34.87, with resistance above at 35.24, 35.33, and 35.41. Hourly Moving Averages are bullish, with the 200SMA at 34.95 and the daily 20EMA bullish at 34.68. Hourly RSI is bullish at 71.