US Dollar/Brazilian Real (USD/BRL) Exchange Rate
USD/BRL Pivot Points
USD/BRL Latest Updates
After demonstrating a rather solid bearish trend since late October and touching low values in the middle of December, the USD/BRL has seen slight bullish momentum develop.
The US dollar rallied during the trading session on Wednesday to reach towards the 200-day EMA against the Brazilian real.
The Brazilian real lost strength during the trading session on Tuesday as the US dollar got a boost against most currencies.
The US dollar initially spiked against the Brazilian real on Monday, as the markets were very thin due to holiday trading.
The USD/BRL has produced a rather tight value band the past week of trading as support and resistance levels have consolidated and proven adequate.
Important support levels are now being challenged by the USD/BRL as it challenges values not sincerely tested since the second week of June.
Brazil remains the third-most infected country with COVID-19 with the second-highest death toll.
The USD/BRL has developed what appears to be a sincere bearish trend since the end of October.
The US dollar fell again against the Brazilian real as we crossed the 5.10 threshold during the trading session on Monday.
The USD/BRL has broken lower in the past day and is testing a price range it has not traded in since mid-September.
The Brazilian real strengthened during the trading session on Tuesday to reach down towards the 200-day EMA.
The USD/BRL has witnessed a rather consolidated price range the past couple of days as volumes in Forex disappeared due to the lack of participation from US financial institutions.
With the Covid-19 pandemic continuing to pressure the global economy into an extended recession, Brazil faces a decrease in foreign direct investment (FDI).
Amidst the large amount of global risk sentiment pervading the international financial markets, and as highs are being seen on many equity indices, the USD/BRL remains tangled within a price range that has shown little determination to trade outside of known values.
Brazil remains the third country in the world most infected by COVID-19, with more than 6,000,000 confirmed cases.
The USD/BRL has produced choppy conditions during the past few days of trading.
The USD/BRL has produced a slightly bearish trend the past few days of trading and has been able to display ability to incrementally lower resistance levels.
Whipsaw trading conditions continue to make the USD/BRL difficult for some short-term speculators.
The US dollar pulled back slightly during the trading session on Monday but found enough support at the previous uptrend line that we continue to grind higher in general.
The USD/BRL has seen a fairly consolidated range emerge the past two days as its current price hovers over mid-term support levels which have proven difficult to puncture lower with sustained trading.