USD/MXN may rise 1825 - 2709 pips

Our pivot point stands at 17.6434.

Our preference

The upside prevails as long as 17.6434 is support.

Alternative scenario

The downside breakout of 17.6434 would call for 17.4949 and 17.4066.

Comment

The RSI is above 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 17.7475 and 17.7681).

Supports and resistances

18.2198 **

18.1314 *

18.0429 **

17.9545

17.7720 last

17.7017

17.6434 **

17.4949 *

17.4066 **

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