19 Dec 2014
USD/RUB slides on Ruble Stabilization measures
FXStreet (Mumbai) - The Russian ruble recovered losses from previous sessions and climbed higher against the US dollar after Finance Minister's confirmed forex stabilization measures.
Russia's Finance Minister confirmed selling foreign currency and buying the ruble while reiterating that the currency will strengthen and stabilize next year. Finance Minister Anton Siluanov commented, "the ruble would definitely firm at the beginning of next year", which lifted the ruble today, taking the pair to 60 levels. The USD/RUB trades now at 60.22 levels, losing 3% on the day having posted day low at 59.64 levels.
USD/RUB Technical Levels
To the upside, the next resistance is located at 65.99 (Dec 15 High) and above which it could extend gains to 68 levels. To the downside, immediate support might be located at 57.97 (Dec 18 Low) and below that at 55 levels.
Russia's Finance Minister confirmed selling foreign currency and buying the ruble while reiterating that the currency will strengthen and stabilize next year. Finance Minister Anton Siluanov commented, "the ruble would definitely firm at the beginning of next year", which lifted the ruble today, taking the pair to 60 levels. The USD/RUB trades now at 60.22 levels, losing 3% on the day having posted day low at 59.64 levels.
USD/RUB Technical Levels
To the upside, the next resistance is located at 65.99 (Dec 15 High) and above which it could extend gains to 68 levels. To the downside, immediate support might be located at 57.97 (Dec 18 Low) and below that at 55 levels.