USD/MXN may rise 1414 - 2075 pips

Our pivot point stands at 19.8369.

Our preference

As long as 19.8369 is support look for 20.1363.

Alternative scenario

The downside breakout of 19.8369 would call for 19.7261 and 19.6601.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19.9110 and 19.8791).

Supports and resistances

20.2683 **

20.2023 *

20.1363 **

20.0702

19.9288 last

19.8805

19.8369 **

19.7261 *

19.6601 **

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