USD/MXN may rise to 19.2899 - 19.9119

Our pivot point stands at 17.1601.

Our preference

As long as 17.1601 is support look for 19.9119.

Alternative scenario

The downside breakout of 17.1601 would call for 16.1191 and 15.4995.

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 price is below its 20 period moving average (18.2681) but above its 50 period moving average (17.5561).

Supports and resistances

21.1558 **

20.5339 *

19.9119 **

19.2899

18.0412 last

17.5690

17.1601 **

16.1191 *

15.4995 **

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