USD/MXN may rise 1359 - 1992 pips

Our pivot point is at 19.8976.

Our preference

The upside prevails as long as 19.8976 is support.

Alternative scenario

The downside breakout of 19.8976 would call for 19.7915 and 19.7284.

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 19.9643 and 19.9319).

Supports and resistances

20.3283 **

20.2650 *

20.2018 **

20.1385

20.0026 last

19.9393

19.8976 **

19.7915 *

19.7284 **

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