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28 Jan 2015
Ruble gains as Russia drafts anti-crisis plan
FXStreet (Mumbai) - The Russian ruble bounced-back against the US dollar, pulling away from fresh monthly lows reached earlier this week as Russian authorities roll out new priority measures to rescue the country from slipping into recession.
Currently, USD/RUB trades now at 67.38 levels, losing -0.87% on the day, moving away from intraday high reached at 67.97 levels in the opening trade. The ruble gained about 1% after news hit the wires that Russia's government intends to spend at least 2.34 trillion roubles (USD 35 billion) to rescue the economy from the likelihood of worst hit recession as Western sanctions and the collapse in oil prices have left the country on a verge of a collapse.
USD/RUB Technical Levels
To the upside, the next resistance is located at 69.31 and above which it could extend gains to 71 levels. To the downside, immediate support might be located at 66 and below that at 64 levels.
Currently, USD/RUB trades now at 67.38 levels, losing -0.87% on the day, moving away from intraday high reached at 67.97 levels in the opening trade. The ruble gained about 1% after news hit the wires that Russia's government intends to spend at least 2.34 trillion roubles (USD 35 billion) to rescue the economy from the likelihood of worst hit recession as Western sanctions and the collapse in oil prices have left the country on a verge of a collapse.
USD/RUB Technical Levels
To the upside, the next resistance is located at 69.31 and above which it could extend gains to 71 levels. To the downside, immediate support might be located at 66 and below that at 64 levels.