USD/MXN may rise 2212 - 3193 pips

18.0071 is our pivot point.

Our preference

The upside prevails as long as 18.0071 is support.

Alternative scenario

The downside breakout of 18.0071 would call for 17.8424 and 17.7444.

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 above its 20 and 50 period moving average (respectively at 18.1144 and 18.0930).

Supports and resistances

18.6562 **

18.5580 *

18.4598 **

18.3617

18.1405 last

18.0718

18.0071 **

17.8424 *

17.7444 **

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