USD/MXN may rise 2045 - 3023 pips

Our pivot point stands at 17.8461.

Our preference

As long as 17.8461 is support look for 18.2833.

Alternative scenario

Below 17.8461, expect 17.6819 and 17.5842.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 17.9715 and 17.8667).

Supports and resistances

18.4789 **

18.3811 *

18.2833 **

18.1855

17.9810 last

17.9105

17.8461 **

17.6819 *

17.5842 **

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