USD/BRL: the Brazilian currency just lost 7% of value to the USD
Brazil is struggling on both the humanitarian and the financial frontы. As a result, Brazilian real is weakening
The USD weakened on the non-manufacturing PMI
The massive selloff in the market spread to the USD. The figures of ISM non-manufacturing PMI fell to 53.7 points (vs. the forecast of 55.5). As a result, EUR/USD has risen to the 1.1205 level. Earlier, the Stochastic indicator formed bullish divergence with the price and signaled about the move to the upside. If the current resistance is broken, the next resistance will lie at 1.1228. After the breakout, pay attention to the levels above the crossover of 50- and 100-day SMA at 1.1253. If the USD gets stronger again, the pair will retest the 1.1060 level. The next support will lie at 1.1003.
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