Published: 2025-06-05T16:02:41.000Z
Chart USD/BRL Update: Poised for fresh losses
Senior Technical Strategist
5
Extended consolidation is giving way to a test lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 5.9000 | ** | congestion | S1 | 5.6125 | ** | 76.4% ret of Sep-Dec rally | |
| R3 | 5.8000 | ** | congestion | S2 | 5.6000 | ** | congestion | |
| R2 | 5.7625 | ** | 7 May (w) high | S3 | 5.5050 | ** | 50% ret of 2023-2024 rally | |
| R1 | 5.7000 | * | congestion | S4 | 5.5000 | ** | congestion |
Asterisk denotes strength of level
16:45 BST - Extended consolidation is giving way to a test lower, with prices currently pressuring support at congestion around 5.6000 and the 5.6125 Fibonacci retracement. Daily readings are negative and broader weekly charts are mixed/negative, highlighting room for a later break. This will turn sentiment outright negative and extend December losses towards congestion around 5.5000 and the 5.5050 Fibonacci retracement. Meanwhile, resistance is up to congestion around 5.7000 and should cap any immediate tests higher.