7645558 7/13/2017 12:30 PM, USD/BRL Mini Future? (Aug 17 - BM&FBOVESPA;) intraday: rebound towards 3247


Our pivot point stands at 3209.5.


Our preference

: rebound towards 3247.


Alternative scenario

: the downside breakout of 3209.5 would call for 3197.5 and 3190.5.


Comment

: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 3233.7 and 3256.0).


Supports and resistances

:

3261.5 **

3254.0 *

3247.0 **

3240.0

3225.6 last

3214.5

3209.5 **

3197.5 *

3190.5 **