USD/MXN may fall 1878 - 2764 pips

Our pivot point stands at 17.9380.

Our preference

The downside prevails as long as 17.9380 is resistance.

Alternative scenario

The upside breakout of 17.9380, would call for 18.0870 and 18.1756.

Comment

The RSI is below its neutrality area at 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 17.8508 and 17.9024).

Supports and resistances

18.1756 **

18.0870 *

17.9380 **

17.8795

17.8181 last

17.6303

17.5417 **

17.4532 *

17.3646 **

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