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Free AccessPrice Signal Summary: USDBRL Remains Below Recent Highs
- USDMXN is unchanged and activity remains in a range. The outlook is bearish and attention is on key support at 19.5987, Jun 9 low where a break would strengthen a bearish case and open 19.5494, Jan 21 low. Price needs to get above 20.2153, Jun 24 high to alter the picture.
- USDBRL recently breached the 50-day EMA however it has failed to hold onto recent highs and is again testing the 50-day EMA. Further weakness would highlight a bearish theme and expose 5.00 plus the Jun 25 low of 4.8934. This latter level is a key support. A break of 5.3130, Jul 8 high is required to resume bullish pressure.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.