USD/MXN may rise 1329 - 1983 pips

Our pivot point stands at 19.6403.

Our preference

The upside prevails as long as 19.6403 is support.

Alternative scenario

Below 19.6403, expect 19.5306 and 19.4652.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19.6982 and 19.6435). Finally, the USD/MXN has crossed above its upper Bollinger band (19.7383).

Supports and resistances

20.0750 **

20.0097 *

19.9443 **

19.8789

19.7460 last

19.6834

19.6403 **

19.5306 *

19.4652 **

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