USD/MXN may rise 1444 - 2099 pips

Our pivot point stands at 19.6537.

Our preference

The upside prevails as long as 19.6537 is support.

Alternative scenario

The downside breakout of 19.6537 would call for 19.5439 and 19.4786.

Comment

The RSI is above its neutrality area at 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 19.7027 and 19.6567).

Supports and resistances

20.0860 **

20.0206 *

19.9552 **

19.8897

19.7453 last

19.6969

19.6537 **

19.5439 *

19.4786 **

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