USD/MXN may rise to 20.1876 - 20.7465

Our pivot point is at 18.2227.

Our preference

The upside prevails as long as 18.2227 is support.

Alternative scenario

The downside breakout of 18.2227 would call for 17.2894 and 16.7338.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.4170 and 18.0036).

Supports and resistances

21.8643 **

21.3054 *

20.7465 **

20.1876

18.9840 last

18.5893

18.2227 **

17.2894 *

16.7338 **

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