USD/MXN may rise 2051 - 3053 pips

Our pivot point is at 18.3380.

Our preference

The upside prevails as long as 18.3380 is support.

Alternative scenario

The downside breakout of 18.3380 would call for 18.1699 and 18.0699.

Comment

The RSI is above its neutrality area at 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 18.4251 and 18.3573).

Supports and resistances

18.9938 **

18.8936 *

18.7935 **

18.6933

18.4882 last

18.4040

18.3380 **

18.1699 *

18.0699 **

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