USD/MXN may rise 1377 - 2036 pips

Our pivot point stands at 19.8290.

Our preference

The upside prevails as long as 19.8290 is support.

Alternative scenario

The downside breakout of 19.8290 would call for 19.7183 and 19.6525.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 19.8830 and 19.8168).

Supports and resistances

20.2514 **

20.1855 *

20.1196 **

20.0537

19.9160 last

19.8725

19.8290 **

19.7183 *

19.6525 **

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