USD/MXN may rise 1279 - 1909 pips

Our pivot point stands at 19.8629.

Our preference

As long as 19.8629 is support look for 20.1439.

Alternative scenario

The downside breakout of 19.8629 would call for 19.7572 and 19.6943.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 19.9462 and 19.9196).

Supports and resistances

20.2698 **

20.2068 *

20.1439 **

20.0809

19.9530 last

19.9045

19.8629 **

19.7572 *

19.6943 **

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