USD/BRL may rise to 5.5333 - 5.6227

Our pivot point stands at 5.2221.

Our preference

The upside prevails as long as 5.2221 is support.

Alternative scenario

Below 5.2221, expect 5.0724 and 4.9832.

Comment

The RSI is above its neutrality area at 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 5.2101 and 5.1612).

Supports and resistances

5.8014 **

5.7120 *

5.6227 **

5.5333

5.3403 last

5.2810

5.2221 **

5.0724 *

4.9832 **

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