Published: 2025-01-17T16:52:36.000Z
Chart USD/BRL Update: Extending consolidation - studies under pressure
Senior Technical Strategist
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Little change, as flattening oversold daily stochastics keep near-term sentiment cautious
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.3140 | ** | 18 Dec all-time high | S1 | 6.0000 | * | break level | |
| R3 | 6.2000 | ** | congestion | S2 | 5.8750 | * | break level | |
| R2 | 6.1500 | * | congestion | S3 | 5.8000 | ** | congestion | |
| R1 | 6.1000 | * | break level | S4 | 5.7200 | * | break level |
Asterisk denotes strength of level
16:35 GMT - Little change, as flattening oversold daily stochastics keep near-term sentiment cautious and prompt consolidation above support at 6.0000. The daily Tension Indicator continues to track lower and broader weekly charts are under pressure, highlighting potential for further losses in the coming sessions. A close beneath here will add weight to sentiment and extend December losses initially to the 5.8750 break level. Meanwhile, a close above resistance at 6.1000, if seen, will stabilise price action and prompt renewed consolidation around congestion resistance at 6.1500.