USD/MXN may fall 2049 - 3019 pips

Our pivot point stands at 18.3712.

Our preference

The downside prevails as long as 18.3712 is resistance.

Alternative scenario

The upside breakout of 18.3712, would call for 18.5343 and 18.6314.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.2624 and 18.2756).

Supports and resistances

18.6314 **

18.5343 *

18.3712 **

18.3071

18.2398 last

18.0349

17.9379 **

17.8409 *

17.7438 **

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