USD/MXN may rise 1361 - 1992 pips

Our pivot point stands at 17.7730.

Our preference

As long as 17.7730 is support look for 18.1123.

Alternative scenario

The downside breakout of 17.7730 would call for 17.6674 and 17.6045.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (17.9163) but above its 50 period moving average (17.7448).

Supports and resistances

18.2385 **

18.1754 *

18.1123 **

18.0492

17.9131 last

17.8145

17.7730 **

17.6674 *

17.6045 **

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