USD/MXN may rise to 19.8570 - 20.5390

Our pivot point stands at 17.4662.

Our preference

As long as 17.4662 is support look for 20.5390.

Alternative scenario

Below 17.4662, expect 16.3287 and 15.6515.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.1284 and 17.3355).

Supports and resistances

21.9030 **

21.2210 *

20.5390 **

19.8570

18.4341 last

17.9131

17.4662 **

16.3287 *

15.6515 **

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