8 Dec 2014
Russian Ruble on toss versus US Dollar
FXStreet (Mumbai) - The Russian currency continues its descent against the US dollar, consolidating above 52 levels.
The ruble is trading at 53.67 levels, down by 1.87%, at time of writing. The Russian currency continued to weaken amid failed political and forex interventions by the Russian Central Bank. Falling oil prices also remains a major drag on the ruble.
The ruble has lost almost 40% versus the US dollar ytd.
USD/RUB Technical Levels
The pair has an immediate resistance at 53.87 (Dec 1 High) levels, above which gains could be extended to 54.35 (Dec 2 High) levels. On the flip side, support is seen at 53.06 (10-day SMA) level, below which it could extend losses to 52.46 (Dec 5 Low) levels.
The ruble is trading at 53.67 levels, down by 1.87%, at time of writing. The Russian currency continued to weaken amid failed political and forex interventions by the Russian Central Bank. Falling oil prices also remains a major drag on the ruble.
The ruble has lost almost 40% versus the US dollar ytd.
USD/RUB Technical Levels
The pair has an immediate resistance at 53.87 (Dec 1 High) levels, above which gains could be extended to 54.35 (Dec 2 High) levels. On the flip side, support is seen at 53.06 (10-day SMA) level, below which it could extend losses to 52.46 (Dec 5 Low) levels.