Brazil’s 0.5% Q2 GDP Growth Caps USD/BRL Near R$5.15
Updated
Updated · TU News · Sep 1
Brazil’s 0.5% Q2 GDP Growth Caps USD/BRL Near R$5.15
3 articles · Updated · TU News · Sep 1
Summary
USD/BRL slipped to R$5.1537 after Brazil reported Q2 GDP growth of 0.5% quarter on quarter and 2.0% year on year, a stronger-than-expected result that supported the real.
The pair remains below its 20- and 50-day moving averages, signaling limited near-term upside for the dollar even as it holds above longer-term support.
Technical indicators are mixed: MACD and RSI still show buyer pressure, but Stoch RSI and CCI flag overbought conditions as the rate tests resistance around R$5.181.
The next two to three sessions are seen rangebound between R$5.1279 and R$5.1843, with a break above resistance pointing to further gains and a drop below support signaling renewed downside.