The ruble has stopped growing against the dollar after an eight-day rally

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On Friday, September 21, at the end of the trading session on the Moscow exchange rate of the us dollar calculations “tomorrow” increased by 15 kopecks (+0,23%), to 66,41 Euro – 2 kopecks (+0,03%) to RUB 78,06
After eight days of strengthening, the rouble took a break. Despite the upward correction of the pair dollar/ruble to 66.82 RUB, the dollar ended at the level of RUB 66,41 Given that the American session of the national currency has strengthened with rising dollar and falling oil prices, we can expect a new phase of strengthening foreign currencies.
At the weekend the ruble was not the negative events. After a meeting of OPEC oil rose 1.3%, to $of 79.80. Following the meeting it was not decided on any further increase in production. Customers in the oil are preparing to pass the area of $80-$80,5. It would be speculation on technical factors, not more. And the rising oil prices will have a positive impact on the ruble during the opening of the Moscow exchange.
In the Asian session, oil is trading in positive territory at 1.4%. With the support of the oil market and the tax period, the ruble does not interfere to strengthen the grinbek and to reach the level of 66 rubles per US dollar. Also do not rule out falling to 65,50 RUB And this is a good level for the new purchase of the dollar.
Pair of Euro/ruble strong support is at the level of RUB should be placed at 77.30 Here you need to follow the overall trend of the Euro in the Forex market. With rising oil prices and the Euro, the Euro/ruble in the moment to stoop to 76,20 RUB And it is also a good level to purchase.
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Vladislav Antonov,
Analyst
Alpari