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BRL Continues Volatile Week

BRAZIL

Notable USDBRL weakness down just shy of 1%.

  • Aided by the larger current account surplus than expected,
  • The move likely a continuation of yesterday's selloff and a further retracement of the week's rally as we still trade above the weekly low. Markets continue to grapple with what an extension of emergency aid may look like.
  • 5.2869 Monday Low matches up with the 200day MA which has been supportive throughout November.
  • Our Technical Analyst indicates the more important bear trigger 5.2250 Low from Nov 9.

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