7640849 7/12/2017 5:15 PM, USD/BRL intraday: rebound


Our pivot point stands at 3.2368.


Our preference

: rebound.


Alternative scenario

: the downside breakout of 3.2368 would call for 3.2203 and 3.2105.


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 trigger further gains. Moreover, the pair is trading above its 20 MA (3.2536) but under its 50 MA (3.2649).


Supports and resistances

:

3.3039 **

3.2940 *

3.2842 **

3.2743

3.2545 last

3.2433

3.2368 **

3.2203 *

3.2105 **