Having tested the new historical maximums at the level of about 122.00, the USD/RUB pair has pulled back and is currently approaching the broken psychological level of 100.00. This level should provide the required support. The pullback to the level of 100.00 has happened due to take profits and emergency measures taken by Russia’s central bank. The bank has conducted the currency interventions as well as obliged all exporters sell 80% of their profit. It was a step in the right direction. However, these measures are the short-term frantic attempts to improve the poor economic situation. It keeps worsening with every passing day as invasion of Ukraine continues and Russia’s economy is plunging into a deeper recession. USD/RUB has only one option left – it should gradually approach the level of 120. So far, the level of 100.00 provides the required support.

The price of EUR/USD is heading downwards. It should gain a very important psychological support at the level of 1.1000 away from which it is likely to jump.

Gold is trading in the range formed between the levels 1976.5 and 1880.0. The asset might pull from the levels inside of flat.