USD/MXN may rise 1982 - 2955 pips

Our pivot point stands at 18.1506.

Our preference

Rebound.

Alternative scenario

Below 18.1506, expect 17.9871 and 17.8898.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (18.2628) but below its 50 period moving average (18.3092).

Supports and resistances

18.7713 **

18.6739 *

18.5766 **

18.4793

18.2811 last

18.2148

18.1506 **

17.9871 *

17.8898 **

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