USD/BRL may rise to 5.7447 - 5.8931

Our pivot point stands at 5.2328.

Our preference

As long as 5.2328 is support look for 5.8931.

Alternative scenario

Below 5.2328, expect 4.9844 and 4.8366.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (5.4578) but above its 50 period moving average (5.2824).

Supports and resistances

6.1899 **

6.0415 *

5.8931 **

5.7447

5.4479 last

5.3304

5.2328 **

4.9844 *

4.8366 **

Number of asterisks represents the strength of support and resistance levels.