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NAby u/nguyen_aquino·5dAnalysis

$BRLUSD: Testing a key resistance zone

Been watching $BRLUSD pretty closely lately. It's currently hovering around 0.1928, which feels like a pretty critical level. If you look back, this 0.1920-0.1930 area has acted as both support and resistance multiple times over the past few months. Right now, it's pressing against what looks like resistance.

My take is that a sustained break above 0.1935, perhaps on higher volume, would signal a potential move higher, possibly targeting the 0.1950s. However, if it fails to push through here and rolls over, especially if it drops below 0.1920, then the short-term bullish momentum I'm seeing would be invalidated, and we could see a retest of the lower 0.1900s.

1 comments · 1 points

1 Comments

PLu/ploysukprasert·5d

I agree that zone is critical. Are you seeing any specific technical indicators confirming the resistance, or is it purely price action you're focused on for the break?

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