While the price is above the support 19.5970 , beginning of uptrend is expected.
If the support at 19.5970 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 48.
Altho the Dollar weakness is seen accross the board, there are a couple of exceptions, and MXN is one of them. IF, USD can gain the light blue coloured level there is high likelihood for us to see 23.50 later.
Let's watch the price action on those levels
USDMXN is coming out of a bullish reversal contraction which has found support at an important DC level 18.89460, only then can we focus on trading till the TP levels (green).
The main two resistances price action needs to break are 19.04180 and 19.12485.
TP #1 - 19.27560 ( pips 3299 / RR 2.27 ) our profit target
TP #2 - 19.36510 ( pips 4190 / RR 2.90 )