USD/MXN may fall 1557 - 2276 pips

Our pivot point is at 19.3472.

Our preference

The downside prevails as long as 19.3472 is resistance.

Alternative scenario

The upside breakout of 19.3472, would call for 19.4683 and 19.5403.

Comment

The RSI is below 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 19.3907 and 19.4191).

Supports and resistances

19.5403 **

19.4683 *

19.3472 **

19.2996

19.2268 last

19.0711

18.9992 **

18.9272 *

18.8553 **

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