USD/MXN may rise 1356 - 2003 pips

Our pivot point is at 18.2826.

Our preference

Look for a drop towards 18.2826 before a bounce.

Alternative scenario

The downside breakout of 18.2826 would call for 18.1740 and 18.1093.

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 stands above its 20 period moving average (18.3497) but below its 50 period moving average (18.3737).

Supports and resistances

18.6976 **

18.6330 *

18.5683 **

18.5036

18.3680 last

18.3253

18.2826 **

18.1740 *

18.1093 **

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