USD/MXN may fall 2138 - 3097 pips

18.1715 is our pivot point.

Our preference

The downside prevails as long as 18.1715 is resistance.

Alternative scenario

Above 18.1715, look for 18.3329 and 18.4290.

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 18.0683 and 18.0766).

Supports and resistances

18.4290 **

18.3329 *

18.1715 **

18.1081

18.0439 last

17.8301

17.7342 **

17.6383 *

17.5423 **

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