USD/MXN may rise 855 - 1193 pips

Our pivot point is at 17.0095.

Our preference

As long as 17.0095 is support look for 17.1743.

Alternative scenario

The downside breakout of 17.0095 would call for 16.9529 and 16.9191.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (17.0580) but above its 50 period moving average (16.9793).

Supports and resistances

17.2418 **

17.2080 *

17.1743 **

17.1405

17.0550 last

17.0317

17.0095 **

16.9529 *

16.9191 **

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