USD/BRL may fall to 5.0393 - 5.1812

Our pivot point is at 5.6842.

Our preference

The downside prevails as long as 5.6842 is resistance.

Alternative scenario

Above 5.6842, look for 5.9239 and 6.0666.

Comment

The RSI is below 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 5.5654 and 5.4931).

Supports and resistances

6.0666 **

5.9239 *

5.6842 **

5.5900

5.4650 last

5.1812

5.0393 **

4.8974 *

4.7555 **

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