FXMarketAlerts Team
FXMarketAlerts
Published at 11:00 (GMT) 19 Sep
11::00 GMT - USD/BRL is still very o/b at this time and we must be extra careful now. There is growing risk that profit-taking sets in soon and that risk if seen today could force this mkt to roll over and begin a correction phase back to the 2.328/307 zone. In the event that the mkt does power up through 2.377 toward 2.40, we would still want to be very careful. R.Z
R5: 2.411 * mid-Feb high
R4: 2.4 figure
R3: 2.385 projection
R2: 2.377 * Mar '14 high
R1: 2.372 intraday high
S1: 2.328 * Jan '14 low
S2: 2.307 * 08 Aug high
S3: 2.287 ** 200-day MA
S4: 2.273 * break level
S5: 2.245 * 100-day MA
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