USD/MXN may rise 1620 - 2416 pips

18.6950 is our pivot point.

Our preference

Rebound towards 19.0509.

Alternative scenario

The downside breakout of 18.6950 would call for 18.5614 and 18.4819.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (18.7985) but under its 50 period moving average (18.8480).

Supports and resistances

19.2101 **

19.1305 *

19.0509 **

18.9713

18.8093 last

18.7475

18.6950 **

18.5614 *

18.4819 **

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