USD/BRL: Decline to extend on failure to defend 4.89 – SocGen USDBRL Technical Analysis Banks
USD/BRL downtrend has tentatively paused after forming interim low near the 4.89 mark, however, it has struggled to reclaim the 200-Day Moving Average near 5.17/5.20. This denotes the downward momentum is still prevalent.Next potential objectives are located at projections of 4.80/4.75 which is also the 76.4% retracement from April 2022.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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