USD/MXN may rise 1950 - 2894 pips

Our pivot point stands at 17.9546.

Our preference

Rebound towards 18.3966.

Alternative scenario

The downside breakout of 17.9546 would call for 17.7964 and 17.7021.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.1102 and 18.1565).

Supports and resistances

18.5854 **

18.4910 *

18.3966 **

18.3022

18.1072 last

18.0168

17.9546 **

17.7964 *

17.7021 **

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