In view of Axel Rudolph, senior analyst at Commerzbank, USD/RUB continues to be side-lined above its late November low at 65.42, in itself not far above key support at the 64.99/85 October lows and suggests that this area can be retested.
Key Quotes
“Below the 64.85 level lie the 64.28/21 May and June highs and the 200 day moving average at 63.55.”
“We will retain our medium term neutral outlook while no unexpected rise takes the cross above the current November peak at 68.27, nor below the 64.85 October low.”
“Above the November high at 68.27 lie the August highs at 69.01/23 and also the September peak at 70.64.”
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