FxWirePro: USD/RUB underperforms on corporate tax payments, good to sell rallies
Russia's rouble traded stronger early on Thursday, helped by healthy appetite for emerging-market assets globally and the start of the country's end-of-month tax period Global markets were boosted after weak U.S. economi…
Russia's rouble traded stronger early on Thursday, helped by healthy appetite for emerging-market assets globally and the start of the country's end-of-month tax period
Global markets were boosted after weak U.S. economic data added to expectations the Federal Reserve will delay hiking interest rates
The Russian currency is down some 2 percent against the dollar since the start of the week, hurt by falls in the price of oil, Russia's main export
USD/RUB is currently trading at 62.12, price action has dipped below the cloud, RSI and Stochs are biased lower
100-DMA should prove near-term support at 61.18, while cloud base at 63.31 is strong resistance
Recommendation: Good to sell rallies around 62.30, SL: 62.75, TP: 61.00
