USD/BRL may rise to 5.4896 - 5.6093

Our pivot point is at 5.0539.

Our preference

The upside prevails as long as 5.0539 is support.

Alternative scenario

Below 5.0539, expect 4.8543 and 4.7355.

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 5.1443 and 5.0949).

Supports and resistances

5.8487 **

5.7290 *

5.6093 **

5.4896

5.2107 last

5.1323

5.0539 **

4.8543 *

4.7355 **

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