USD/MXN may rise 1451 - 2104 pips

19.5920 is our pivot point.

Our preference

As long as 19.5920 is support look for 19.9040.

Alternative scenario

The downside breakout of 19.5920 would call for 19.4825 and 19.4174.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 19.6913 and 19.6106).

Supports and resistances

20.0345 **

19.9692 *

19.9040 **

19.8387

19.6936 last

19.6350

19.5920 **

19.4825 *

19.4174 **

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