USD/BRL pulls back after rejection at channel resistance – Société Générale

FXStreetJan 9, 2026 10:47 AM

View all comments（0）



USD/BRL has retreated after failing to sustain a break above the upper boundary of its multi-month descending channel near 5.61/5.63 and the 200-day moving average around 5.50, Société Générale's FX analysts note.

Failure above 200-DMA keeps pair under pressure

"USD/BRL has pulled back after testing the upper boundary of a multi-month descending channel near 5.61/5.63. It attempted to break above the 200-DMA (currently near 5.50) but failed to sustain the move."

"It is gradually drifting toward the September/November lows around 5.27, a key support level. It will be interesting to see if the pair can establish a higher trough and form a base. A cross above the 200-DMA at 5.50 would be crucial to confirm a lager rebound."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Oil Prices Plunged 20% in May, Under the Fog of U.S.-Iran Tensions, Where Are Oil Prices Heading?

TradingKey - As the U.S.-Iran conflict enters its third month, the global oil market is grappling with a combination of heightened volatility and uncertainty. In May, international oil prices recorded their largest single-month decline in six years. Brent crude July contracts fell nearly 20%, while West Texas Intermediate (WTI) July contracts dropped nearly 17%, both marking their weakest monthly performance since the onset of the pandemic in March 2020.

Investing 75 Billion Euros. SoftBank Builds Europe’s Largest AI Cluster in France, Masayoshi Son’s Global Layout Places Another Key Piece

TradingKey - On May 31, SoftBank Group announced it will invest up to €75 billion (approximately RMB 592 billion) in France to construct a large-scale AI computing cluster network. This project is set to become Europe's largest data center initiative to date and represents SoftBank's largest single AI investment outside the United States.

Rigetti Computing (RGTI) Stock: $2B Quantum Initiative Fuels Rally — Is Rigetti a Buy at $25.50?

TradingKey - Rigetti RGTI at $25.50 after pulling back from the 2.618 Fib breakout. $2B federal quantum initiative, 36-qubit government delivery, Lyra 100+ qubit late 2026. RSI 59. Target $27.77.

U.S. May Nonfarm Payrolls Preview: Can the Labor Market Open the Door to Rate Cuts? Gold, Dollar, U.S. Stocks Face Key Test

TradingKey - On Friday, June 5 (ET), the U.S. Bureau of Labor Statistics will release the May non-farm payrolls report. The market generally expects U.S. non-farm job growth to slow further from April, with current forecasts ranging from approximately 85,000 to 96,000, compared to the previous figure of 115,000. The unemployment rate is projected to remain around 4.2% to 4.3%, while the month-on-month growth of average hourly earnings is expected to pick up to 0.3%, up from the previous 0.2%.

AMD Q1 Earnings: Data Center Revenue Surges 57% Driving Results Above Estimates, Shares Rise Over 16% After Hours

TradingKey - On May 5 (ET), Advanced Micro Devices (AMD) released its first-quarter fiscal 2026 financial results after the market close. The company reported revenue of $10.253 billion, up 38% year-over-year, exceeding market expectations of $9.89 billion. Non-GAAP earnings per share (EPS) were $1.

Featured Tools