USD/BRL may rise 459 - 688 pips

5.6959 is our pivot point.

Our preference

Rebound towards 5.7956.

Alternative scenario

The downside breakout of 5.6959 would call for 5.6574 and 5.6345.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 5.7277 and 5.7354).

Supports and resistances

5.8414 **

5.8185 *

5.7956 **

5.7727

5.7268 last

5.7111

5.6959 **

5.6574 *

5.6345 **

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