USD/BRL may rise to 5.8168 - 5.9272

Our pivot point stands at 5.4315.

Our preference

The upside prevails as long as 5.4315 is support.

Alternative scenario

The downside breakout of 5.4315 would call for 5.2468 and 5.1369.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 5.4979 and 5.5284).

Supports and resistances

6.1478 **

6.0375 *

5.9272 **

5.8168

5.5962 last

5.5040

5.4315 **

5.2468 *

5.1369 **

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