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USD/BRL holds old support line ahead of the Fed

Real money demand for BRL ebbing today as Fed risk looms USD at new highs by 3.1730 after poor Brazil retail sales USD/BRL holding old support line, BM&F 1-mth USD/BRL NDF support line sits at 3.1580 Today's S.P. range 3…

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EconoTimes — Reading the Times. Understanding the Future.

  • Real money demand for BRL ebbing today as Fed risk looms

  • USD at new highs by 3.1730 after poor Brazil retail sales 

  • USD/BRL holding old support line, BM&F 1-mth USD/BRL NDF support line sits at 3.1580

  • Today's S.P. range 3.1339/3.1632, local exporters BRL buyers

  • 3.1275 = 50% Fibo 2.9098/3.3457 drawing price action to it

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