USD/RUB bounces off 66.50, oil trims gains

The greenback is reclaiming part of yesterday’s drop vs. the Russian currency, now pushing USD/RUB back to the vicinity of the 67.00 handle.

USD/RUB focus on oil, US data

The pair gained further upside momentum following an auspicious result from the ADP report earlier today, showing that the US private sector has added 179K jobs during July, slightly above expectations.

Adding to RUB-selling, crude oil prices remain unable to gather some sustainable traction and are extending the downside to the $42.00 area so far, or 4-month lows.

USD/RUB levels to watch

At the moment the pair is gaining 0.24% at 66.82 facing the next resistance at 67.15 (high Jul.29) ahead of 67.67 (high Jun.2) and then 68.81 (200-day sma). On the other hand, a break below 65.94 (100-day sma) would expose 64.82 (20-day sma) and finally 62.75 (2016 low Jul.14).