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Positive momentum builds in USD/BRL – Société Générale

The Brazilian Real (BRL) remains under mild pressure as USD/BRL holds above 5.27, with technical signals pointing to further upside while support at 5.37 stays intact, Société Générale's FX analysts note.

USD/BRL turns constructive above 5.37 support

"USD/BRL formed an interim low near 5.27 last month resulting in a short-term bounce. It has crossed a multi-month descending trend line. Daily MACD has been posting positive divergence highlighting receding downward momentum."

"If a short-term pullback develops, graphical levels near 5.37 may provide support. Defence of this may lead to continuation in rebound. The next hurdles are located at the 200-DMA near 5.63 and May highs of 5.73/5.76."

USD/CNH: Likely to trade in a range between 7.1280 and 7.1500 – UOB Group

US Dollar (USD) is likely to trade in a range between 7.1280 and 7.1500. In the longer run, USD is expected to trade in a range between 7.1200 and 7.1550, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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Gold extends record rally as US-China trade tensions rattle markets

Gold (XAU/USD) continues its record-breaking rally on Monday, setting fresh all-time highs around $4,085 as fears of a revived US-China trade war boosts safe-haven demand.
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