# Brazilian Real Technical Analysis: USD/BRL, EUR/BRL

> The Brazilian real weakened against the dollar and euro during the week of June 26-30, 2023, after Copom minutes pointed to possible rate cuts in August. USD/BRL held support near 4.7520 while EUR/BRL broke above a falling wedge pattern.

- Date: 2023-06-30 · published 2023-06-30T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/35694-brazilian-real-technical-analysis-usd-brl-eur-brl
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A softer real on rate-cut expectations supports Brazilian export competitiveness for soybeans, meal and corn, which can pressure world prices for these commodities.

## Read by commodity

- SBM: bearish ▼
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2023-09-29 | [Brazilian Real Technical Analysis: USD/BRL Breakout Re-Tests 5.00](https://feedsoft.ai/events/34322-brazilian-real-technical-analysis-usd-brl-breakout-re-tests-5-00.md) | +2.9% | -1.8% |
| USDBRL | 2016-11-10 | [USD/BRL: Brazilian real tumbles to lowest since June — Octa](https://feedsoft.ai/events/5468-usd-brl-brazilian-real-tumbles-to-lowest-since-june-octa.md) | +6.1% | +4.5% |
| USDBRL | 2020-03-05 | [Brazilian Real (BRL USD) Plunges to Record Low as Rate Cut Seen - Bloomberg](https://feedsoft.ai/events/9274-brazilian-real-brl-usd-plunges-to-record-low-as-rate-cut-seen-bloomberg.md) | +3.0% | +15.4% |
| USDBRL | 2024-12-17 | [USD/BRL: Brazilian Real, Stocks and Bonds Plummet as Panic Sweeps Markets - Bloomberg](https://feedsoft.ai/events/27151-usd-brl-brazilian-real-stocks-and-bonds-plummet-as-panic-sweeps-markets.md) | +2.0% | -0.2% |
| USDBRL | 2025-02-19 | [Brazilian Real Weighed by Trade Fears](https://feedsoft.ai/events/26258-brazilian-real-weighed-by-trade-fears.md) | +1.4% | -0.3% |
| SBM | 2023-09-29 | [Brazilian Real Technical Analysis: USD/BRL Breakout Re-Tests 5.00](https://feedsoft.ai/events/34322-brazilian-real-technical-analysis-usd-brl-breakout-re-tests-5-00.md) | -4.6% | +9.0% |
| SBM | 2024-12-17 | [USD/BRL: Brazilian Real, Stocks and Bonds Plummet as Panic Sweeps Markets - Bloomberg](https://feedsoft.ai/events/27151-usd-brl-brazilian-real-stocks-and-bonds-plummet-as-panic-sweeps-markets.md) | +0.7% | +4.7% |
| SBM | 2024-11-29 | [What is happening to BRL as the Brazilian Real collapses against the US Dollar](https://feedsoft.ai/events/27617-what-is-happening-to-brl-as-the-brazilian-real-collapses-against-the-us-dollar.md) | -1.3% | +2.2% |

## Sources

- forex.com: https://www.forex.com/en-us/news-and-analysis/brl-usd-usdbrl-eurbrl-eur-brl-brazilian-real-technical-analysis/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.