USD/MXN may rise 2422 - 3333 pips

Our pivot point stands at 19.4948.

Our preference

As long as 19.4948 is support look for 20.0569.

Alternative scenario

The downside breakout of 19.4948 would call for 19.3430 and 19.2527.

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 trading above both its 20 and 50 period moving average (respectively at 19.5716 and 19.2470).

Supports and resistances

20.2391 **

20.1480 *

20.0569 **

19.9658

19.7236 last

19.5544

19.4948 **

19.3430 *

19.2527 **

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