USD/MXN may rise 2023 - 3019 pips

Our pivot point stands at 18.2797.

Our preference

The upside prevails as long as 18.2797 is support.

Alternative scenario

The downside breakout of 18.2797 would call for 18.1125 and 18.0130.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.3913 and 18.3705).

Supports and resistances

18.9192 **

18.8197 *

18.7201 **

18.6205

18.4182 last

18.3453

18.2797 **

18.1125 *

18.0130 **

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