USD/RUB breaks below 64.00, session lows

The Russian currency is now picking up further pace vs. the greenback, relegating USD/RUB to levels sub-64.00, or daily lows.

USD/RUB lower on USD-selling

The pair is accelerating its daily pullback to levels below the 64.00 handle following a selling bias around the greenback and a continuation of the upside momentum in crude oil prices.

Prices for the barrel of Brent crude are up for the second consecutive session, returning to levels above the $49.00 mark and thus lending extra legs to RUB, which is trading at shouting distance from 2016 highs vs. USD (63.42, recorded on June 9).

USD/RUB levels to watch

At the moment the pair is retreating 0.29% at 64.01 facing the next support at 63.42 (2016 low Jun.9) followed by 62.04 (monthly low Nov.2015) and then 60.70 (monthly low Oct.2015). On the other hand, a surpass of 64.57 (20-day sma) would expose 65.33 (55-day sma) and finally 65.80 (high Jun.24).