Published: 2025-07-21T15:52:46.000Z
Chart USD/BRL Update: Range trade - any pullback to remain limited
Senior Technical Strategist
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Little change, as prices extend choppy trade beneath congestion resistance at 5.6000
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 5.7000 | * | congestion | S1 | 5.5000 | ** | congestion | |
| R3 | 5.6650 | ** | 38.2% ret of Apr-Jul fall | S2 | 5.4700 | * | range lows | |
| R2 | 5.6500 | ** | congestion | S3 | 5.4000~ | ** | 4 Jul YTD low | |
| R1 | 5.6000 | ** | congestion | S4 | 5.3780 | * | August 2024 low |
Asterisk denotes strength of level
16:40 BST - Little change, as prices extend choppy trade beneath congestion resistance at 5.6000. Overbought daily stochastics are unwinding and the rising daily Tension Indicator is flattening, suggesting potential for a pullback. But positive weekly charts are expected to limit any downside tests in renewed buying interest towards congestion support at 5.5000. Following cautious trade, fresh gains are looked for. A later break above 5.6000 will turn sentiment positive and extend July gains initially to congestion around 5.6500 and the 5.6650 Fibonacci retracement.