USD/RUB: Bulls await updates on Ukraine’s nuclear plant attack, Biden-Zelenskyy talks

• USD/RUB eyes on 119.14 as Ukraine’s nuclear station attack may bring more sanctions on Russia.
• The Western leaders are condemning the Russian shelling in the nuclear area.
• A fresh wave in the risk-aversion theme is likely to underpin the safe-haven assets.

The USD/RUB pair is likely to surpass its all-time highs at 119.14 as Moscow may attract fresh sanctions from the Western leaders after the shelling of Zaporizhzhia nuclear power in Ukraine, which is also the largest nuclear power station in Europe.  Russian military shelling on the nuclear power plant has been followed by a flood of tweets from the world leaders.

On the incident, Ukraine’s President Volodymyr Zelensky is out with an official statement that the “Russian army has opened fire on Zaporizhzhia NPP. No state except Russia has ever opened fire at nuclear power units. For the first time in human history, a terrorist state has resorted to nuclear terror. Only immediate European action can stop Russian troops”.

Ukraine President Volodymyr Zelensky has also spoken with US President Joe Biden in this regard and both have urged Russia to halt its military activities in Ukraine’s nuclear plant area.

Meanwhile, Canadian PM Justin Trudeau, in a tweet on Friday, has called the Russian attacks ‘unacceptable’ and needs to be ceased immediately.

Earlier, the second round of peace talks between the Kremlin and Kyiv ended without any material outcome. However, the Ukrainian civilians are allowed to move to safe passages. The truce talks without any material outcome recalled uncertainty in the markets and risk-perceived assets dumped again.

USD/RUB Technical Analysis

On a daily scale, USD/RUB has faced a significant resistance near 119.14, which is clearly visible in the wicks of Tuesday, Wednesday, and Thursday trading sessions on the upside. The bullish broader picture in the major is still intact. The Relative Strength Index (RSI) (14) is oscillating in a 60.00-80.00 range, which signals a continuation of bullish momentum.

USD/RUB daily chart