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#USDBRL Forecast: US Dollar Continues to Punish Real (11 June 2024)

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The US dollar has rallied again during the trading session on Monday against the Brazilian real, as we continue to see a lot of concerns around the world affecting emerging market currency such as this one. All things being equal, this is a market that I think will continue to see a lot of upward pressure, and I think at this point in time it does make a certain amount of sense that short-term pullbacks will continue to be buying opportunities. Technical Analysis AC several support levels that are excellent buying opportunities if you do in fact get the opportunity. Keep in mind that this is a pair that will be extraordinarily volatile at times because it is somewhat thinly traded during certain times of the day. That being said, I believe that the 5.30 level has now offered itself a bit of support, as it previously had been resistance. With that being the case, I like the idea of buying dips in bits and pieces and taking advantage of value any time, it shows up. After all, the US doll