USD/MXN may rise 1400 - 2049 pips

Our pivot point stands at 18.3244.

Our preference

As long as 18.3244 is support look for 18.6368.

Alternative scenario

The downside breakout of 18.3244 would call for 18.2156 and 18.1507.

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 price is above its 20 and 50 period moving average (respectively at 18.3636 and 18.2294).

Supports and resistances

18.7667 **

18.7017 *

18.6368 **

18.5719

18.4319 last

18.3672

18.3244 **

18.2156 *

18.1507 **

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