USD/RUB finds support near 64.70

The Russian currency is trading on a firmer note on Tuesday, dragging USD/RUB to the area of daily lows near 64.70.

USD/RUB attention to oil, data

Spot is coming up from the 64.70 region as the barrel of Brent crude is losing over 2%, returning to sub-$47.00 levels after advancing to the boundaries of the $48.00 mark earlier in the day.

The current correction lower in crude oil prices keeps weighing on RUB, as hopes of an output freeze at the OPEC meeting later in the month have practically evaporated.

USD/RUB levels to watch

At the moment the pair is losing 0.28% at 64.89 facing the next support at 64.52 (low Sep.5) followed by 64.24 (low Aug.26) and finally 63.41 (low Aug.18). On the other hand, a break above 65.97 (high Sep.1) would aim for 66.29 (high Jun.14) and then 67.15 (high Jul.29).