USD/BRL may rise to 5.9326 - 6.0910

Our pivot point is at 5.4014.

Our preference

The upside prevails as long as 5.4014 is support.

Alternative scenario

Below 5.4014, expect 5.1356 and 4.9774.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 5.5341 and 5.3534).

Supports and resistances

6.4077 **

6.2493 *

6.0910 **

5.9326

5.6108 last

5.5059

5.4014 **

5.1356 *

4.9774 **

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