Forex - Chart USD/BRL Update: Stopped short of downside target; back up through 100-day MA


 14:27 (GMT) 14 Jun

  [Forex Charts]

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Chart USD/BRL Update: Stopped short of downside target; back up through 100-day MA (0101-LWRP-C01)

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Asterisk denotes strength of level

14:25 GMT - USD/BRL was not able to reach our 3.8220 target before shooting back up through the 100-day MA at 3.8620. It is now looking more possible that the mkt ends the week back above the 100-day MA, so we are now forced back to neutral to start next week off. At this point, we are not yet confident about a sustained short-term move higher.


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