USD/MXN may rise 2014 - 2976 pips

17.5333 is our pivot point.

Our preference

The upside prevails as long as 17.5333 is support.

Alternative scenario

The downside breakout of 17.5333 would call for 17.3721 and 17.2761.

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 17.6628 and 17.6805). Finally, the USD/MXN has crossed above its upper Bollinger band (17.6916).

Supports and resistances

18.1917 **

18.0955 *

17.9992 **

17.9030

17.7016 last

17.5967

17.5333 **

17.3721 *

17.2761 **

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