USD/MXN may rise 1997 - 2971 pips

Our pivot point stands at 17.8301.

Our preference

The upside prevails as long as 17.8301 is support.

Alternative scenario

The downside breakout of 17.8301 would call for 17.6667 and 17.5695.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 17.9463 and 17.9461).

Supports and resistances

18.4566 **

18.3593 *

18.2620 **

18.1646

17.9649 last

17.8943

17.8301 **

17.6667 *

17.5695 **

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