USD/MXN may rise 2010 - 2977 pips

Our pivot point stands at 18.0225.

Our preference

Rebound towards 18.4507.

Alternative scenario

The downside breakout of 18.0225 would call for 17.8602 and 17.7635.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.1684 and 18.1970).

Supports and resistances

18.6441 **

18.5474 *

18.4507 **

18.3540

18.1530 last

18.0862

18.0225 **

17.8602 *

17.7635 **

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