FxWirePro: Russian Rouble erases previous gain against USD- Buy on dips

• USD/RUR is currently trading at 70.3144 levels.
   
• The rouble rose against the dollar on Monday, buoyed by news that Russia would begin withdrawing its forces from Syria, gaining more than 1 percent against the dollar immediately after the announcement.
   
• It made intraday high at 70.5030 and low at 69.7806 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 68.7546 levels.
   
• A daily close below key support will drag the parity towards 68.04/ 64.42 levels thereafter.
   
• Alternatively, reversal from key support area will drag the parity towards key resistance at 71.50/73.30 marks.

We prefer to take long position in USD/RUB around 70.10, stop loss 68.75 and take profit at 73.30 levels.