USD/RUB: Holding above 75.50 is crucial to see a test of November 2020 high at 80.95 – SocGen

USD/RUB has pulled back after facing resistance near 80.40. But analysts at Société Générale expect the pair to test the November 2020 high of 80.95 if the 75.50 support holds.

75.50 should be near-term support

“A multi-month ascending trend line near 75.50 should be near-term support.”

“Defending 75.50 can take the pair to November 2020 high of 80.95.”