Fairly stable week for most BRICS #currencies, thanks to some USD weakness. #SouthAfrica recovering some of last weeks losses. #BRICS currency/USD movements for this week:
Brazil -1.3%
Russia +1.4%
India +0.4%
China +0.9%
South Africa +0.5%
Euro/USD +0.4%
I must admit that the one currency that is looking mighty interesting technically this week, is the Brazilian Real. At 0.2664/USD it is not only finding itself close to the 50-day moving average at 0.2652/USD, but also at a nice little trend resistance line. A bounce off these levels could see us test the short-term highs made in both January this year and October 2018 – target 0.2744/USD. Should the current resistance break, traders should watch the 200-day moving average at 0.2608/USD as first target/stop.
Brazil -1.3%
Russia +1.4%
India +0.4%
China +0.9%
South Africa +0.5%
Euro/USD +0.4%
I must admit that the one currency that is looking mighty interesting technically this week, is the Brazilian Real. At 0.2664/USD it is not only finding itself close to the 50-day moving average at 0.2652/USD, but also at a nice little trend resistance line. A bounce off these levels could see us test the short-term highs made in both January this year and October 2018 – target 0.2744/USD. Should the current resistance break, traders should watch the 200-day moving average at 0.2608/USD as first target/stop.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.