USD/MXN may rise 1758 - 2601 pips

Our pivot point stands at 18.4628.

Our preference

As long as 18.4628 is support look for 18.8381.

Alternative scenario

The downside breakout of 18.4628 would call for 18.3212 and 18.2369.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.5632 and 18.4776).

Supports and resistances

19.0068 **

18.9225 *

18.8381 **

18.7538

18.5780 last

18.5184

18.4628 **

18.3212 *

18.2369 **

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