Published at 07:26 (GMT) 16 Apr
14::30 GMT - USD/BRL continues to be slower going on the day so far. Asthe mkt tries to inch closer to the 2.247/25 upper zone, we will need to remain on alert for the next downturn soon. The current corrective bounce off the recent low is still weak overalland not a sign that 'the' bottom is in. Still room for another roll lower from 2.247/25 to 2.148/14 S/T. R.Z
- R5: 2.305 ** 200-day MA
- R4: 2.3 figure
- R3: 2.288 * 03 Apr high
- R2: 2.278 04 Apr high
- R1: 2.247 * break level
- S1: 2.206 * break level
- S2: 2.18 10 Apr low
- S3: 2.1735 29 Oct '13 low
- S4: 2.148 ** 100-week MA
- S5: 2.14 ** Jun '13 break
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