Quotes from Societe Generale Cross Asset Research:
-USD/BRL is up against previous highs and the upward channel limit of 2.62/2.65.
-Indicators are overstretched and the up move is likely to be limited.
-Since 2011, the up moves post consolidation have typically ended near the equality to the moves going into the formation (log scale).
The material has been provided by InstaForex Company – www.instaforex.com