USD/BRL consolidates near September lows – Société Générale
Source Fxstreet
USD/BRL remains range-bound after hitting an interim low near 5.27, with momentum indicators showing potential for a pause in the downtrend, Société Générale's FX analysts note.
Break above 5.43 key for rebound
"USD/BRL has consolidated in a range after forming an interim low near 5.27 in September. The daily MACD shows positive divergence, indicating a slowdown in downward momentum; however, price action has yet to confirm a meaningful rebound."
"Move beyond the recent pivot high at 5.43 is crucial for signalling a short-term up move. Failure to defend 5.27 could lead to extension in decline towards 5.20/5.18 and the lower boundary of the channel drawn since December 2024 near 5.10."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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