USD/MXN may rise 1215 - 1801 pips

Our pivot point stands at 19.2876.

Our preference

The upside prevails as long as 19.2876 is support.

Alternative scenario

The downside breakout of 19.2876 would call for 19.1892 and 19.1306.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19.3460 and 19.3315). Finally, the USD/MXN has crossed above its upper Bollinger band (19.3723).

Supports and resistances

19.6724 **

19.6138 *

19.5551 **

19.4965

19.3750 last

19.3263

19.2876 **

19.1892 *

19.1306 **

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