BRAZIL: USDBRL Extends Losses To 2%

MNI interviews the chair of the ISM manufacturing survey on the potential impact of tariffs. -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
 

• +45,600 wk2 TY 112.75 calls, 1 ref 109-01 (expire Friday) - new trade, no open interest on option that expires Friday

• RES 4: 0.8474 High Jan 20 and a key resistance    
• RES 3: 0.8421 High Jan 27  
• RES 2: 0.8381 20-day EMA 
• RES 1: 0.8363 Intraday high  
• PRICE: 0.8297 @ 16:46 GMT Feb 3 
• SUP 1: 0.8296 Low Feb 3
• SUP 2: 0.8223 Low Dec 19 and a key support  
• SUP 3: 0.8203 Low Mar 7 ‘22 and a lowest point of a multi-year range   
• SUP 4: 0.8000 Round number support 

EURGBP is trading in a volatile manner. The bear cycle that started Jan 20 remains in play and today’s price activity has strengthened - for now - a bearish threat. A resumption of weakness would pave the way for a move towards the first key support at 0.8223, the Dec 19 low. On the upside, the 20-day EMA is seen as a key short-term resistance - at 0.8381. A breach of the EMA would highlight a bullish development.