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- USD/BRL to suffer further losses on a break under 4.89 – SocGen
USD/BRL to suffer further losses on a break under 4.89 – SocGen
USD/BRL is gradually drifting towards the lower limit of its large consolidation at 4.95/4.89. Should this support gets violated, the pair would extend the down move towards 4.81 and projections of 4.73, analysts at Société Générale report.
USD/BRL to rebound towards 5.28 if 4.89 holds
“4.95/4.89 is a crucial support zone. Defending this can result in a rebound towards 5.28 and perhaps even towards 5.38, the low of November.”
“Only if support at 4.89 get violated, would there be a risk of extension in the down move towards 4.81 and projections of 4.73.”
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