USD/MXN may fall 2089 - 3086 pips

Our pivot point stands at 18.5466.

Our preference

The downside prevails as long as 18.5466 is resistance.

Alternative scenario

The upside breakout of 18.5466, would call for 18.7142 and 18.8139.

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 stands below its 20 and 50 period moving average (respectively at 18.4236 and 18.4293).

Supports and resistances

18.8139 **

18.7142 *

18.5466 **

18.4808

18.4106 last

18.2017

18.1020 **

18.0024 *

17.9027 **

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