USD/MXN may fall 2004 - 2968 pips

Our pivot point stands at 18.2383.

Our preference

The downside prevails as long as 18.2383 is resistance.

Alternative scenario

The upside breakout of 18.2383, would call for 18.4002 and 18.4966.

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 18.1430 and 18.1624).

Supports and resistances

18.4966 **

18.4002 *

18.2383 **

18.1746

18.1087 last

17.9083

17.8119 **

17.7156 *

17.6192 **

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