The USD/BRL fell to fresh lows on Monday and then demonstrated rather consolidated price action as important support levels came into sight.

When the USD/BRL opens today it could potentially be hit with a sudden burst of activity and traders need to be cautious early in the day. Yesterday’s results saw the USD/BRL currency pair close near the 5.1250 mark and this outcome kept price action within sight of important support levels not sincerely seen since the middle of June.

While the results from Monday are intriguing, today’s outcome could produce equally fascinating speculative opportunities for USD/BRL traders. The USD/BRL has produced a solid amount of bearish price action since the first week of August. A high of nearly 5.3160 was seen on the 3rd of August. Traders should note that reversals upward have occurred too, this has not been a one way direction.

On the 21st of July the USD/BRL was trading near the 5.3100 ratio. The bearish price action in the Forex pair has been clear since then, but again pursuit of selling positions has not be a clear path to victory for traders, risk management has been essential to produce solid trading results. Yesterday’s trading which saw the USD/BRL trade lower than its outcome demonstrated on Friday, which saw volatile conditions via a sudden burst higher to nearly 5.2800 and then a strong drop to nearly 5.1500 is noteworthy.

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