USD/MXN may rise 1486 - 2119 pips

Our pivot point stands at 17.8676.

Our preference

As long as 17.8676 is support look for 18.1709.

Alternative scenario

The downside breakout of 17.8676 would call for 17.7614 and 17.6982.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 17.9297 and 17.6935).

Supports and resistances

18.2975 **

18.2342 *

18.1709 **

18.1076

17.9590 last

17.9093

17.8676 **

17.7614 *

17.6982 **

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