USD/MXN may rise 1925 - 2832 pips

Our pivot point stands at 19.1401.

Our preference

The upside prevails as long as 19.1401 is support.

Alternative scenario

The downside breakout of 19.1401 would call for 18.9882 and 18.8978.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 19.2365 and 19.2442). Finally, the USD/MXN is trading above its upper Bollinger band (standing at 19.2830).

Supports and resistances

19.7664 **

19.6757 *

19.5851 **

19.4944

19.3019 last

19.1998

19.1401 **

18.9882 *

18.8978 **

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