USD/MXN may rise 2100 - 3010 pips

Our pivot point stands at 19.5614.

Our preference

As long as 19.5614 is support look for 20.0260.

Alternative scenario

The downside breakout of 19.5614 would call for 19.4091 and 19.3184.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 19.6381 and 19.3103).

Supports and resistances

20.2079 **

20.1170 *

20.0260 **

19.9350

19.7250 last

19.6212

19.5614 **

19.4091 *

19.3184 **

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