USD/MXN may rise 1631 - 2419 pips

Our pivot point is at 18.5220.

Our preference

Rebound towards 18.8714.

Alternative scenario

Below 18.5220, expect 18.3896 and 18.3108.

Comment

The RSI is below 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 18.6425 and 18.6882). Finally, the USD/MXN has penetrated its lower Bollinger band (18.6307).

Supports and resistances

19.0291 **

18.9503 *

18.8714 **

18.7926

18.6295 last

18.5740

18.5220 **

18.3896 *

18.3108 **

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