Brazilian Real Faces Downside Risk Against USD

USD/BRL rebounding from interim low near 4.88 The Brazilian Real has been rebounding from an interim low near 4.88 against the USD. The currency pair is approaching the 200-DMA and a descending trend line around 5.25. Resistance is seen at 5.32/5.34, with d

USD/BRL rebounding from interim low near 4.88

The Brazilian Real has been rebounding from an interim low near 4.88 against the USD.

The currency pair is approaching the 200-DMA and a descending trend line around 5.25.

Resistance is seen at 5.32/5.34, with downside risk if 4.99 is broken.

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