USD/MXN may rise 2043 - 3042 pips

Our pivot point is at 18.3186.

Our preference

As long as 18.3186 is support look for 18.7609.

Alternative scenario

The downside breakout of 18.3186 would call for 18.1507 and 18.0508.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.4060 and 18.3431).

Supports and resistances

18.9609 **

18.8609 *

18.7609 **

18.6610

18.4567 last

18.3846

18.3186 **

18.1507 *

18.0508 **

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