USD/MXN may rise 1844 - 2731 pips

Our pivot point stands at 17.7060.

Our preference

Rebound towards 18.0971.

Alternative scenario

The downside breakout of 17.7060 would call for 17.5570 and 17.4683.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 17.8265 and 17.8241).

Supports and resistances

18.2745 **

18.1858 *

18.0971 **

18.0084

17.8240 last

17.7645

17.7060 **

17.5570 *

17.4683 **

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