USD/MXN may rise 1742 - 2579 pips

Our pivot point is at 18.3077.

Our preference

Rebound towards 18.6829.

Alternative scenario

The downside breakout of 18.3077 would call for 18.1673 and 18.0838.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (18.4136) but under its 50 period moving average (18.5502).

Supports and resistances

18.8501 **

18.7665 *

18.6829 **

18.5992

18.4250 last

18.3629

18.3077 **

18.1673 *

18.0838 **

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