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Free AccessUSD/RUB Eyes Bullish Engulfing Candle as Russia Escapes Blame for DarkSide Hack For Now
- USD/RUB opens lower after rejecting the 73.50 level in yesterday's session as early upside in brent markets reversed to close slightly lower around $68.32/bbl.
- Weakness in oil markets has continued this morning as US Gulf Coast crude refiners cut output on the back of Colonial pipeline closure, denting demand for crude.
- Biden's remarks saying there is no evident Russia was involved in the DarkSide attack so far is a positive, but should be monitored as the narrative/investigation unfolds.
- A large bullish engulfing candle formed on the daily chart is a bit of an obstacle to further USD/RUB downside for now
- but the sell side remains comfortable to fade rallies so long as the current state of relative geopolitical calm in Russia persists.
- Intraday Sup1: 73.9706, Sup2: 73.7436, Res1: 74,1981, Res2: 74.3885
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.