USD/RUB keeps highs near 65.00

The Russian currency is extending its bearish note on Wednesday, lifting USD/RUB to the area of daily highs just below the 65.00 handle.

USD/RUB focus on oil, dollar

The upbeat momentum in the greenback continues to give support to the pair’s upside so far this week, rebounding from Monday’s in sub-64.00 levels to the current vicinity of 65.00 the figure.

Adding to RUB selling, the barrel of Brent crude is shedding nearly 1% around the mid-$49.00s at the time of writing, managing to bounce off earlier lows in the $49.00 neighbourhood.

Later in the session, US Existing Home Sales is expected, while the CBR FX Reserves are due to be released on Thursday.

USD/RUB levels to watch

At the moment the pair is up 0.34% at 64.81 with the next hurdle at 65.32 (100-day sma) followed by 67.15 (high Jul.29) and then 68.86 (200-day sma). On the other hand, a breakdown of 63.41 (low Aug.18) would aim for 62.75 (2016 low Jul.14) and finally 62.04 (low Nov.4 2015).