USD/MXN may fall 1923 - 2885 pips

18.1950 is our pivot point.

Our preference

The downside prevails as long as 18.1950 is resistance.

Alternative scenario

The upside breakout of 18.1950, would call for 18.3565 and 18.4527.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.0779 and 18.0938).

Supports and resistances

18.4527 **

18.3565 *

18.1950 **

18.1315

18.0630 last

17.8707

17.7745 **

17.6784 *

17.5822 **

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