Minidollar (WDOK24) may experience volatility with BC intervention in the exchange rate

Minidollar contracts (WDOK24), due in May, closed positive for the fourth consecutive day, registering an increase of 0.62%, at 5,068 points. This Tuesday (2), the Central Bank will intervene in the exchange rate for the first time in more than a year, with an additional exchange rate swap auction of up to 20 thousand contracts, equivalent to US$ 1 billion. Last year, the BC did not put new money on the market, it only promoted the rollover of lines and the stock of currency swaps.

Thus, based on last Monday’s closing, at 5,068 points, technical analyst Rodrigo Paz points out as supports 5,067 (1), 5,052/5,040 (2) and 5,023/5,015 (3). Meanwhile, resistance is in 5,072/5,074.5 (1), 5,086 (2) and 5,090/5,100 (3).

Based on the 15-minute chart, it can be seen that the mini-dollar contract is trading upwards and, if it surpasses the 5,086 point range, it could continue. However, it is worth paying attention, as in the last session it closed below the averages and with the formation of a double top, which if confirmed could seek correction after the bullish sequence.

“For today (Tuesday), it is important to keep an eye on the possible continuation of the upward movement. To do this, it must surpass the range of 5,072/5,074.5 points. If it breaks through this resistance region, it should aim for the 5,086 point range. If it remains high, the target will be in the region of 5,090/5,100”, points out the technical analyst.

Despite the current movement, it is worth paying attention to the main support bands, especially after closing below the averages, and double top formation. If it starts a correction movement and breaks the bottom of the double top at 5,067 points, it could boost the sales flow, in order to seek bands of 5,052/5,040 with a longer target in the region of 5,023/5,015 points.

Dollar Futures (WDOK24): 60-Minute Chart

Analyzing the 60-minute chart, it is possible to observe that the mini-dollar is trading at a high and above the averages, with a decline in the last hours of the day before. It is necessary to pay attention to the distance from the 21-period average after four consecutive days of increase, and the formation of a double top, which could cause a corrective movement.

“For the asset to follow the buying flow, it must surpass the region of 5,086 points to then aim for a projected target in the range of 5,091/5,100 points. The longest goal will be in the range of 5,115 points”, he says.

If you look for a correction movement, attention returns to the average range at 5,066 points. If it is broken, you should look for the 5,052 range with a longer target at 5,040/5,023 points.

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