USD/MXN may rise 1292 - 1918 pips

Our pivot point is at 19.6980.

Our preference

Rebound towards 19.9807.

Alternative scenario

The downside breakout of 19.6980 would call for 19.5929 and 19.5304.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 19.8183 and 19.8956). Finally, the USD/MXN has penetrated its lower Bollinger band (19.7932).

Supports and resistances

20.1058 **

20.0432 *

19.9807 **

19.9181

19.7889 last

19.7392

19.6980 **

19.5929 *

19.5304 **

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