USD/MXN may rise 1518 - 2241 pips

Our pivot point stands at 19.1996.

Our preference

Our next up target stands at 19.5390.

Alternative scenario

The downside breakout of 19.1996 would call for 19.0783 and 19.0060.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19.2613 and 19.2584).

Supports and resistances

19.6837 **

19.6114 *

19.5390 **

19.4667

19.3149 last

19.2473

19.1996 **

19.0783 *

19.0060 **

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