Russian rouble continues to appreciate against US dollar, short term bias remains bearish

• USD/RUB is currently trading around 68.20 levels.
   
• It made intraday high at 68.29 and low at 67.43 levels.
   
• Intraday bias remains neutral for the moment.
   
• A daily close below key support 66.41 will drag the parity towards 64.42 levels.
   
• Alternatively, reversal from key support area will drag the parity towards key resistance at 71.72/73.30 marks.
   
• Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend while RSI signals bullish trend.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.