USD/RUB Price Analysis: Rouble eyes bullish target near 117.00 despite no progress on ceasefire

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USD/RUB Price Analysis: Rouble eyes bullish target near 117.00 despite no progress on ceasefire
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USD/RUB Price Analysis: Rouble eyes bullish target near 117.00 despite no progress on ceasefire USDRUB Ukraine RussianFederation Currencies RiskAversion

Arriving at the meeting, Kuleba said he had low expectations that a compromise would be reached, as suggested by the country’s leader Volodymyr Zelenskyy a day before.Despite fading hopes for diplomacy and resolution, the Russian rouble is seeing fresh demand after USD/RUB faced rejection at 140.00.

The immediate support is now seen at the ascending 50-Simple Moving Average at 116.80, below which a sharp sell-off towards 110.00 will be in the offing. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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