USD/MXN may rise 1710 - 2550 pips

18.3783 is our pivot point.

Our preference

The upside prevails as long as 18.3783 is support.

Alternative scenario

The downside breakout of 18.3783 would call for 18.2374 and 18.1535.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.4771 and 18.4989).

Supports and resistances

18.9269 **

18.8429 *

18.7590 **

18.6750

18.5040 last

18.4336

18.3783 **

18.2374 *

18.1535 **

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