USD/BRL may rise to 5.5515 - 5.6309

5.2857 is our pivot point.

Our preference

As long as 5.2857 is support look for 5.6309.

Alternative scenario

Below 5.2857, expect 5.1524 and 5.0731.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 5.3457 and 5.2243).

Supports and resistances

5.7897 **

5.7103 *

5.6309 **

5.5515

5.3928 last

5.3380

5.2857 **

5.1524 *

5.0731 **

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