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The Brazilian real gets bombarded by multiple fundamentals

Long
FX_IDC:USDBRL   U.S. Dollar / Brazilian Real
The Brazilian real doesn’t stand a chance against the US dollar’s new-found strength and the USD/ BRL trading pair is one a steep climb towards its resistance level . It’s broadly expected that the prices would eventually reach their highest ranges as the Brazilian real gets bombarded by multiple fundamentals, preventing it from defending itself against the power of bullish investors. See, the US dollar remains as the world’s most chosen currency despite the hurdles it has faced this pandemic, this strains the confidence of bearish investors. However, it’s worth noting that the prices also have a potential for a steep plunge once it hits that resistance line as the US dollar as it also faces major turbulences. Meanwhile, the alarming number of daily deaths and cases in Brazil is raising concerns in the market. And to add more negativity for bearish investors, the performance of the emerging markets against major currencies isn’t helping the Brazilian real’s cause.
𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐫𝐨𝐤𝐞𝐫𝐚𝐠𝐞 - 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐅𝐨𝐫𝐞𝐱 𝐍𝐞𝐰𝐬 & 𝐅𝐨𝐫𝐞𝐱 𝐁𝐫𝐨𝐤𝐞𝐫𝐬
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