USD/RUB off highs, returns to 65.00

The greenback remains bid vs. its main rivals on Monday, now lifting USD/RUB to fresh highs above the 65.00 handle.

USD/RUB higher on oil drop, USD gains

The pair is advancing for the second consecutive session so far, backed by a persistent buying sentiment around the buck and the return of the offered bias in crude oil prices.

In fact, the barrel of Brent crude is shedding more than 1% so far today and continues to trade in sub-$50.00 mark after being rejected from Friday’s peaks near $50.80.

Absent releases in the Russian docket this week, US releases and crude oil dynamics will be the exclusive drivers for the pair’s price action in the very near term.

USD/RUB levels to watch

At the moment the pair is gaining 0.30% at 65.05 facing the initial hurdle at 65.31 (high Aug.24) followed by 67.15 (high Jul.29) and then 68.84 (200-day sma). On the other hand, a break below 63.41 (low Aug.18) would aim for 62.75 (2016 low Jul.14) and finally 62.04 (low Nov.4 2015).