USD/MXN may rise 2176 - 3020 pips

18.4190 is our pivot point.

Our preference

The upside prevails as long as 18.4190 is support.

Alternative scenario

Below 18.4190, expect 18.2778 and 18.1937.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.4386 and 18.5220). Finally, the USD/MXN is trading above its upper Bollinger band (standing at 18.5303).

Supports and resistances

19.0303 **

18.9459 *

18.8615 **

18.7771

18.5595 last

18.4745

18.4190 **

18.2778 *

18.1937 **

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