USD/MXN may rise 1374 - 2033 pips

Our pivot point is at 19.8151.

Our preference

As long as 19.8151 is support look for 20.1130.

Alternative scenario

The downside breakout of 19.8151 would call for 19.7045 and 19.6386.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19.9048 and 19.8292).

Supports and resistances

20.2448 **

20.1789 *

20.1130 **

20.0471

19.9097 last

19.8585

19.8151 **

19.7045 *

19.6386 **

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