USD/BRL may rise 309 - 461 pips

Our pivot point stands at 5.6819.

Our preference

Our next up target stands at 5.7482.

Alternative scenario

Below 5.6819, expect 5.6563 and 5.6410.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 5.6897 and 5.6965). Finally, the USD/BRL is trading above its upper Bollinger band (standing at 5.7012).

Supports and resistances

5.7788 **

5.7635 *

5.7482 **

5.7330

5.7021 last

5.6920

5.6819 **

5.6563 *

5.6410 **

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