USD/MXN may rise 1273 - 1888 pips

17.3808 is our pivot point.

Our preference

Rebound towards 17.6555.

Alternative scenario

The downside breakout of 17.3808 would call for 17.2776 and 17.2161.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 17.4840 and 17.5702).

Supports and resistances

17.7785 **

17.7170 *

17.6555 **

17.5940

17.4667 last

17.4214

17.3808 **

17.2776 *

17.2161 **

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