USD/RUB finds support near 64.20

The broad-based softer tone in the greenback is sending USD/RUB to test daily lows in the 64.30 area on Wednesday.

USD/RUB lower on oil recovery

Spot is navigating 3-week lows near the key support at 64.00 as the greenback continues to shed post-Payrolls gains today, relegating the US Dollar Index to 3-day troughs in the mid-95.00s.

Adding to RUB’s bid tone, crude oil prices have managed to return to the positive territory, pushing the barrel of Brent crude back above the $45.00 mark ahead of the EIA’s weekly report.

USD/RUB levels to watch

At the moment the pair is retreating 0.55% at 64.41 and a breakdown of 62.75 (2016 low Jul.14) would aim for 62.04 (low Nov.4 2015) and then 60.75 (low Oct.16 2015). On the other hand, the next up barrier aligns at 67.15 (high Jul.29) followed by 67.67 (high Jun.2) and then 68.85 (200-day sma).