USD/MXN may rise 1819 - 2641 pips

19.5606 is our pivot point.

Our preference

As long as 19.5606 is support look for 19.9397.

Alternative scenario

The downside breakout of 19.5606 would call for 19.4226 and 19.3405.

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 19.6691 and 19.6384).

Supports and resistances

20.1042 **

20.0219 *

19.9397 **

19.8575

19.6756 last

19.6148

19.5606 **

19.4226 *

19.3405 **

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