USD/BRL may rise to 5.3437 - 5.4290

Our pivot point stands at 5.0597.

Our preference

The upside prevails as long as 5.0597 is support.

Alternative scenario

The downside breakout of 5.0597 would call for 4.9163 and 4.8310.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 5.1297 and 5.1064).

Supports and resistances

5.5997 **

5.5143 *

5.4290 **

5.3437

5.1730 last

5.1160

5.0597 **

4.9163 *

4.8310 **

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