USD/MXN may rise 2222 - 3189 pips

Our pivot point stands at 17.6336.

Our preference

The upside prevails as long as 17.6336 is support.

Alternative scenario

The downside breakout of 17.6336 would call for 17.4714 and 17.3749.

Comment

The RSI is above its neutrality area at 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 17.6881 and 17.6829).

Supports and resistances

18.2826 **

18.1858 *

18.0891 **

17.9924

17.7702 last

17.6973

17.6336 **

17.4714 *

17.3749 **

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