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USD/BRL threatens big breakout on Trendline break

  • USD/BRL 1-Mth BM&F NDF range 3.1700/3.2170, serious trendline break

  • Big offshore USD buyer yesterday & today, Interbank fronting RM

  • Pair cleared the April 7th 3.1750 high, target 3.2300/2500

  • Onshore spot 3.1510/3.1855, NDF spot ref 3.1488/3.1822

  • Onshore / offshore swap moving up (BRL pressure) 

  • Market Data
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