USD/MXN may rise 1717 - 2562 pips

18.5085 is our pivot point.

Our preference

As long as 18.5085 is support look for 18.8830.

Alternative scenario

The downside breakout of 18.5085 would call for 18.3666 and 18.2821.

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 trading above both its 20 and 50 period moving average (respectively at 18.5932 and 18.5065).

Supports and resistances

19.0520 **

18.9675 *

18.8830 **

18.7985

18.6268 last

18.5642

18.5085 **

18.3666 *

18.2821 **

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