13 Jan 2015
USD/RUB posts fresh monthly highs
FXStreet (Mumbai) - The Russian ruble extended its slide against the US dollar during European session, as the ruble mirrored the blood bath seen in oil prices.
Currently, USD/RUB trades now at 65.694 levels, gaining 3.97% on the day, having posted fresh one month high at 65.727 few minutes ago. The ruble dropped to one month lows against the US dollar after Russia's central bank revealed today that it had sold a huge part of its foreign currency reserves last year to support the currency. The Russian central bank said it had sold USD 76.1 billion and EUR 5.4 billion in 2014 to support the falling ruble.
Moreover, the ruble extended losses as falling oil prices continue to have a negative impact on the heavily oil-revenues dependent Russian economy.
USD/RUB Technical Levels
To the upside, the next resistance is located at 67 and above which it could extend gains to 69 levels. To the downside, immediate support might be located at 63 and below that at 61.90 levels.
Currently, USD/RUB trades now at 65.694 levels, gaining 3.97% on the day, having posted fresh one month high at 65.727 few minutes ago. The ruble dropped to one month lows against the US dollar after Russia's central bank revealed today that it had sold a huge part of its foreign currency reserves last year to support the currency. The Russian central bank said it had sold USD 76.1 billion and EUR 5.4 billion in 2014 to support the falling ruble.
Moreover, the ruble extended losses as falling oil prices continue to have a negative impact on the heavily oil-revenues dependent Russian economy.
USD/RUB Technical Levels
To the upside, the next resistance is located at 67 and above which it could extend gains to 69 levels. To the downside, immediate support might be located at 63 and below that at 61.90 levels.