USD/MXN may rise 1322 - 1968 pips

Our pivot point is at 18.2597.

Our preference

As long as 18.2597 is support look for 18.5438.

Alternative scenario

The downside breakout of 18.2597 would call for 18.1512 and 18.0867.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (18.3559) but above its 50 period moving average (18.1686).

Supports and resistances

18.6730 **

18.6084 *

18.5438 **

18.4792

18.3470 last

18.3024

18.2597 **

18.1512 *

18.0867 **

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