- USD/RUB remains well defensive on RUB gains.
- Geopolitical nerves mitigate likely negotiation talks.
- US core PCE rose more than expected in January.
russian currency keeps the supply bias unchanged so far on Friday and now trails the USD/RUB below 82.00, only to bounce back a little later.
USD/RUB Weaker as Risk Appetite Improves
USD/RUB extended the corrective low to the 81.70 area after news of a likely meeting between the Russian and Ukrainian delegations.
Russian troops have already moved into Kiev, while Russian forces are cited as attacking cities in the west of the country.
In Moscow, meanwhile, the MOEX index advances more than 20% and continues to trim some of Thursday’s sharp decline and yields on the Russian benchmark 10-year note cross the 13.00% mark, still below highs in the Thursday around 14.00%.
Technical levels
So far the pair is losing 1.84% at 82.80 and faces the next hurdle at 86.43 (25 Feb high), followed by 90.00 (23 Feb all-time high) and then 100.00 (round level). . On the downside, a break of 80.41 (26 Jan monthly high) would target 76.18 (55-day SMA) and finally 74.25 (10 Feb monthly low).
Source: Fx Street
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