USD/MXN may rise 1708 - 2534 pips

Our pivot point stands at 19.0981.

Our preference

Rebound towards 19.4734.

Alternative scenario

The downside breakout of 19.0981 would call for 18.9594 and 18.8769.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (19.2197) but under its 50 period moving average (19.2381).

Supports and resistances

19.6386 **

19.5560 *

19.4734 **

19.3908

19.2200 last

19.1525

19.0981 **

18.9594 *

18.8769 **

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