USD/MXN may rise 1868 - 2757 pips

17.7328 is our pivot point.

Our preference

The upside prevails as long as 17.7328 is support.

Alternative scenario

The downside breakout of 17.7328 would call for 17.5836 and 17.4948.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 17.8299 and 17.8237). Finally, the USD/MXN is trading above its upper Bollinger band (standing at 17.8553).

Supports and resistances

18.3124 **

18.2236 *

18.1347 **

18.0458

17.8590 last

17.7914

17.7328 **

17.5836 *

17.4948 **

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