USD/MXN may rise 1327 - 1959 pips

Our pivot point stands at 19.8827.

Our preference

The upside prevails as long as 19.8827 is support.

Alternative scenario

The downside breakout of 19.8827 would call for 19.7767 and 19.7136.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19.9523 and 19.9217). Finally, the USD/MXN is trading above its upper Bollinger band (standing at 19.9759).

Supports and resistances

20.3098 **

20.2466 *

20.1834 **

20.1202

19.9875 last

19.9244

19.8827 **

19.7767 *

19.7136 **

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