USD/MXN may rise 1413 - 2118 pips

Our pivot point stands at 18.7419.

Our preference

The upside prevails as long as 18.7419 is support.

Alternative scenario

The downside breakout of 18.7419 would call for 18.6234 and 18.5529.

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 18.8190 and 18.8226).

Supports and resistances

19.2011 **

19.1305 *

19.0599 **

18.9894

18.8481 last

18.7885

18.7419 **

18.6234 *

18.5529 **

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