USD/MXN may rise 1992 - 2974 pips

Our pivot point stands at 17.9294.

Our preference

The upside prevails as long as 17.9294 is support.

Alternative scenario

Below 17.9294, expect 17.7646 and 17.6664.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.0189 and 17.9917).

Supports and resistances

18.5725 **

18.4742 *

18.3759 **

18.2777

18.0785 last

17.9942

17.9294 **

17.7646 *

17.6664 **

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