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CCby u/chart_chai_th·18hAnalysis

BRLUSD - That 0.1935 Resistance Zone Is Still Holding Strong

Been watching $BRLUSD for a while, and that 0.1935 level really seems to be the line in the sand. Every time it gets there, it just gets knocked back. I’ve seen a few attempts to break through, even today, touching 0.19353, but it just can't seem to hold above it. To me, it still looks like a pretty solid resistance zone, and until we see a convincing close above it, I'm leaning towards the idea that it'll continue to reject that level. The invalidation for this idea, of course, would be a strong daily close above 0.1935, which would then suggest a potential shift in momentum. Options-wise, if you're playing the short side, that's where your risk needs to be managed. Otherwise, we're just bouncing around the same old floor, waiting for something to give.

1 comments · 1 points

1 Comments

TLu/tuan_le·11h

It's interesting you bring that up about the 0.1935 level. I've noticed the same pattern. Do you think there's a specific reason for that resistance, like economic data or a major institutional player defending it?

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