USD/MXN may rise 1246 - 1860 pips

Our pivot point is at 17.3689.

Our preference

Rebound towards 17.6426.

Alternative scenario

The downside breakout of 17.3689 would call for 17.2657 and 17.2043.

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 stands below its 20 and 50 period moving average (respectively at 17.4695 and 17.5356).

Supports and resistances

17.7656 **

17.7041 *

17.6426 **

17.5812

17.4566 last

17.4095

17.3689 **

17.2657 *

17.2043 **

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