USD/MXN may rise 1731 - 2528 pips

Our pivot point is at 18.6990.

Our preference

Rebound.

Alternative scenario

The downside breakout of 18.6990 would call for 18.5654 and 18.4858.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (18.7974) but under its 50 period moving average (18.8258).

Supports and resistances

19.2322 **

19.1525 *

19.0729 **

18.9932

18.8201 last

18.7515

18.6990 **

18.5654 *

18.4858 **

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