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TECHS: USDBRL Extends Gains

BRAZIL

USDBRL is trading higher today extending yesterday's strong bounce.

  • The pair has cleared resistance at 5.3114, Dec 28 high and also cleared the 50-day EMA.
  • This signals scope for a climb towards 5.3960 next, the Nov 30 high.
  • Initial support is at today's low of 5.2747. Key short-term support is at 5.1210, Jan 4 low.
  • Resistance levels to watch:
    • RES 1: 5.3960 High Nov 30
    • RES 2: 5.4497 High Nov 23
    • RES 3: 5.5257 High Nov 13 and a key resistance

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