USD/BRL may fall to 5.0516 - 5.1637

Our pivot point stands at 5.5551.

Our preference

The downside prevails as long as 5.5551 is resistance.

Alternative scenario

The upside breakout of 5.5551, would call for 5.7441 and 5.8567.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 5.5786 and 5.5205).

Supports and resistances

5.8567 **

5.7441 *

5.5551 **

5.4809

5.3880 last

5.1637

5.0516 **

4.9395 *

4.8274 **

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