EUR/RUB failed to breakout from a major resistance line

The pair failed to breakout from a major resistance line after its four (4) day rally. Croatia will take over the presidency of the European Council on June 30, 2020. Croatia said its strategy will be based on the main pillars: “A Europe that develops”; “A Europe that connects”; “A Europe that protects”; and “An influential Europe”. However, the “influential” part of it is at stake. Russia backs the ruling party of the Croatian Democratic Union. Croatia also considers Russia as its third-largest trading partner. It is also one of the largest importers of Russia’s liquified natural gas. Meanwhile, Serbia bought Russia’s Pantsir S1 air-defense system. Serbia is one of the five candidate countries for EU membership. In line with this, the EU cut its budget for Kaliningrad Transit Scheme. The transit allows Russian citizens in the exclave Russian territory to travel in Lithuania by road towards mainland Russia.