USD/MXN may rise 1839 - 2736 pips

Our pivot point stands at 17.9032.

Our preference

The upside prevails as long as 17.9032 is support.

Alternative scenario

The downside breakout of 17.9032 would call for 17.7525 and 17.6629.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.0093 and 18.0057).

Supports and resistances

18.4815 **

18.3918 *

18.3021 **

18.2124

18.0285 last

17.9623

17.9032 **

17.7525 *

17.6629 **

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