USD/MXN may rise 1515 - 2220 pips

18.6852 is our pivot point.

Our preference

Rebound towards 19.0284.

Alternative scenario

The downside breakout of 18.6852 would call for 18.5671 and 18.4968.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.8368 and 18.9694).

Supports and resistances

19.1693 **

19.0988 *

19.0284 **

18.9579

18.8064 last

18.7316

18.6852 **

18.5671 *

18.4968 **

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