USD/MXN may rise 1688 - 2511 pips

Our pivot point is at 19.6093.

Our preference

As long as 19.6093 is support look for 19.9751.

Alternative scenario

The downside breakout of 19.6093 would call for 19.4710 and 19.3886.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (19.7310) but above its 50 period moving average (19.6242).

Supports and resistances

20.1399 **

20.0575 *

19.9751 **

19.8928

19.7240 last

19.6637

19.6093 **

19.4710 *

19.3886 **

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