USD/MXN may rise 1821 - 2711 pips

Our pivot point stands at 17.7586.

Our preference

Rebound towards 18.1501.

Alternative scenario

The downside breakout of 17.7586 would call for 17.6092 and 17.5203.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 17.8887 and 17.9421).

Supports and resistances

18.3280 **

18.2391 *

18.1501 **

18.0611

17.8790 last

17.8173

17.7586 **

17.6092 *

17.5203 **

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