USD/MXN may rise 2062 - 3023 pips

Our pivot point stands at 17.5244.

Our preference

Rebound.

Alternative scenario

Below 17.5244, expect 17.3632 and 17.2673.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (17.6554) but under its 50 period moving average (17.6862).

Supports and resistances

18.1645 **

18.0684 *

17.9723 **

17.8762

17.6700 last

17.5877

17.5244 **

17.3632 *

17.2673 **

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