USD/BRL may rise to 6.0527 - 6.2118

5.5143 is our pivot point.

Our preference

The upside prevails as long as 5.5143 is support.

Alternative scenario

The downside breakout of 5.5143 would call for 5.2476 and 5.0888.

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 5.5710 and 5.4039).

Supports and resistances

6.5299 **

6.3709 *

6.2118 **

6.0527

5.7268 last

5.6191

5.5143 **

5.2476 *

5.0888 **

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