USD/MXN may rise 1976 - 2949 pips

Our pivot point stands at 17.8326.

Our preference

The upside prevails as long as 17.8326 is support.

Alternative scenario

The downside breakout of 17.8326 would call for 17.6692 and 17.5719.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 17.9445 and 17.9487).

Supports and resistances

18.4617 **

18.3644 *

18.2670 **

18.1697

17.9721 last

17.8968

17.8326 **

17.6692 *

17.5719 **

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