USD/MXN may rise 1301 - 1947 pips

Our pivot point stands at 19.3799.

Our preference

The upside prevails as long as 19.3799 is support.

Alternative scenario

Below 19.3799, expect 19.2717 and 19.2072.

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 19.4098 and 19.3716). Finally, the USD/MXN is trading above its upper Bollinger band (standing at 19.4682).

Supports and resistances

19.8086 **

19.7441 *

19.6796 **

19.6150

19.4849 last

19.4225

19.3799 **

19.2717 *

19.2072 **

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