The ruble could grow significantly by the end of the year

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Currency pair dollar/ruble in the last two weeks konsolidiruyutsya in a narrow sideways pattern. The situation has not changed even after a successful transaction OPEC+, in which participating countries agreed to cut production by 1.2 million barrels per day, which is more than they had planned.
Thus it is not clear that can disrupt the stability of the ruble. The only thing worth noting is that in December, support for the rouble may have a tax period starting on December 17. It is also possible that the increase in the key interest rates of the Central Bank of the Russian Federation on the current plot. Although this is an unlikely scenario in current circumstances.
As for negativity, the global risks that could bring down the ruble has temporarily gone off the agenda. In particular, the discussion of sanctions by the USA has been postponed to next year.
Technically, the currency pair dollar/ruble to the end of the year may take the first 65,40, then in case of breaking the strong support level 64,70. While this is the chapel at current fundamentals.
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Ivan Kapustyasky,
Senior analyst,
Forex Optimum