USDBRL’s bounce has stalled after retesting July peak of 5.51. Analysts at Société Générale note that the pair needs to break beyond one of the 5.01-5.62/64 bands to affirm a trending move.
Initial pullback expected towards 5.24/5.20
“An initial pullback is expected towards the bullish gap of last week near 5.24/5.20.”
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