Free Trial

USDBRL Is Through A Major Support

  • The monthly chart highlights that March (unless we see a bounce) looks like it will be a 3rd consecutive down month.
  • Price has breached a key support - 4.8187, the Jun 2020 low.
  • This is also the base of a broad range that has dominated since the peak in May 2020.
  • A clear break of this support would reinforce bearish conditions and also highlight a significant medium-term reversal.

To read the full story

Close

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.