USD/MXN may rise 1741 - 2507 pips

Our pivot point is at 19.1971.

Our preference

As long as 19.1971 is support look for 19.5527.

Alternative scenario

The downside breakout of 19.1971 would call for 19.0686 and 18.9922.

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 pair is trading under its 20 period moving average (19.3108) but above its 50 period moving average (19.2455).

Supports and resistances

19.7058 **

19.6293 *

19.5527 **

19.4761

19.3020 last

19.2475

19.1971 **

19.0686 *

18.9922 **

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