The USD/RUB did touch a low of nearly 86.9800 last Thursday when U.S CPI inflation data came in weaker than anticipated, but the last few days of trading has seen an incremental rise.
- Transparency remains an everlasting trial for retail traders’ intent on pursuing the USD/RUR.
- Information is not easy to gather unless a person is an insider, and then it is likely the person is not merely a day trader of the currency pair.
- Once again, even though the Russian Ruble remains officially sanctioned in many domains, the USD/RUB continues to show a rather healthy correlation to the broad Forex market.
Yes, the movement in the USD/RUB happens in incremental steps and volume in the currency pair is extremely light. However the USD/RUB was able to move down to the testing ground of 87.0000 late last week, this as U.S Consumer Price Index statistics came in below expectations. The ability of the USD/RUB to demonstrate a rather productive short-term bearish trend as global financial institutions shifted their sentiment to a more dovish Federal Reserve should not be dismissed as wishful thinking.
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USD/RUB Gains the Past Few Days
As of this writing the USD/RUB has moved higher over the past few days, this after flirting with last week’s lows. The current price of the USD/RUB is around the 88.3368 ratio which is slightly off the early highs for the day which were around the 88.5000 mark. Yesterday’s highs touched the 88.9135 mark briefly. Intriguingly, the incremental steps higher in the USD/RUB the past couple of days does correlate with many other currencies teamed against the USD.
While a one week glance of the USD/RUB shows a slight rise in value this should be considered carefully by day traders who believe that a sudden bullish trend is ready to emerge. A look at a one month chart of the USD/RUB remains rather tight, but it can be said via technical perspective that support levels do appear to be actually rising in the USD/RUB. Without any inside knowledge of Kremlin dynamics the slight rise of the USD/RUB is intriguing, but is it enough to wager on via a trend?
USD/RUB and Speculative Illusions
Via a one week and one month glance, resistance levels are in sight for the USD/RUB. Traders need to question if this is the correct perception, and if so can the 88.5000 to 88.6000 levels continue to be used as a speculative place to wager on quick hitting downside price action.
- The USD/RUB remains a wagering casino for most traders keen on pursuing the currency pair.
- USD/RUB should be done by experienced traders only who know how to manage risk and use standing orders to make sure they are protected and can be cashed out of their bets effectively.
USD/RUB Short Term Outlook:
Current Resistance: 88.4750
Current Support: 88.1890
High Target: 88.7000
Low Target: 87.7500
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