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28 Jan 2015
Russian rouble steadies around 68.00 levels per USD
FXStreet (Mumbai) - The Russian rouble erased gains, taking the USD/RUB to 68.00 levels after oil prices, Russia's chief export, fell towards USD 49/barrel.
Talk of more sanctions on Russia
The Rouble also came under pressure on news that the EU foreign ministers, at a meeting tomorrow, are likely to consider more punitive action against Russia. The Russian stock markets and the Rouble could also take a hit if the EU decided to impose more sanctions on Russia.
However, the Rouble has managed to halt the slide around 68.00 per dollar after Russian PM Dmitry Medvedev has signed a one-year anti-crisis plan worth USD 35 billion designed to stabilize the economy.
USD/RUB Technical Levels
The immediate resistance is seen at 69.31, above which gains could be extended to 68.529 levels. Meanwhile, support is seen at 66.426 and 65.883 levels.
Talk of more sanctions on Russia
The Rouble also came under pressure on news that the EU foreign ministers, at a meeting tomorrow, are likely to consider more punitive action against Russia. The Russian stock markets and the Rouble could also take a hit if the EU decided to impose more sanctions on Russia.
However, the Rouble has managed to halt the slide around 68.00 per dollar after Russian PM Dmitry Medvedev has signed a one-year anti-crisis plan worth USD 35 billion designed to stabilize the economy.
USD/RUB Technical Levels
The immediate resistance is seen at 69.31, above which gains could be extended to 68.529 levels. Meanwhile, support is seen at 66.426 and 65.883 levels.