USD/BRL may rise to 5.7225 - 5.8352

Our pivot point stands at 5.3317.

Our preference

Rebound towards 5.8352.

Alternative scenario

Below 5.3317, expect 5.1429 and 5.0305.

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 5.4898 and 5.5384).

Supports and resistances

6.0606 **

5.9479 *

5.8352 **

5.7225

5.4805 last

5.4058

5.3317 **

5.1429 *

5.0305 **

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