USD/MXN may rise 1830 - 2684 pips

Our pivot point stands at 18.6318.

Our preference

As long as 18.6318 is support look for 19.0739.

Alternative scenario

The downside breakout of 18.6318 would call for 18.4889 and 18.4039.

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 18.7821 and 18.7580).

Supports and resistances

19.2446 **

19.1593 *

19.0739 **

18.9885

18.8055 last

18.6879

18.6318 **

18.4889 *

18.4039 **

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