USD/MXN may rise 1857 - 2704 pips

Our pivot point is at 18.5219.

Our preference

As long as 18.5219 is support look for 18.9174.

Alternative scenario

The downside breakout of 18.5219 would call for 18.3799 and 18.2954.

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 18.6080 and 18.5192).

Supports and resistances

19.0867 **

19.0021 *

18.9174 **

18.8327

18.6470 last

18.5777

18.5219 **

18.3799 *

18.2954 **

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