USD/RUB off highs, US data on sight

After testing fresh highs above 65.20, USD/RUB has now recede to the 65.15/10 band ahead of further US releases.

USD/RUB higher on US CPI, Brent drop

The pair met extra upside pressure after US consumer prices rose more than initially estimated during the month of August, up 1.1% vs. 1.0% forecasted.

RUB keeps its bearish note today following the earlier rate cut by the Russian central bank (CBR), lowering its key rate by 50 bp to 10.0%, broadly in line with market expectations.

In addition, the barrel of Brent crude is weakening further, retracing yesterday’s advance and briefly testing lows near $47.50.

USD/RUB levels to watch

At the moment the pair is advancing 0.49% at 65.08 and a surpass of 65.97 (high Sep.1) would aim for 67.15 (high Jun.14) and finally 68.76 (200-day sma). On the other hand, the immediate support lines up at 63.58 (low Sep.8) followed by 63.41 (low Aug.18) and then 62.75 (low Jul.14).