USD/MXN may rise 1975 - 2879 pips

Our pivot point stands at 19.1088.

Our preference

As long as 19.1088 is support look for 19.5333.

Alternative scenario

The downside breakout of 19.1088 would call for 18.9572 and 18.8669.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (19.2686) but above its 50 period moving average (19.1943).

Supports and resistances

19.7142 **

19.6237 *

19.5333 **

19.4429

19.2454 last

19.1684

19.1088 **

18.9572 *

18.8669 **

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