USD/MXN may fall 2014 - 2900 pips

Our pivot point is at 17.9672.

Our preference

The downside prevails as long as 17.9672 is resistance.

Alternative scenario

Above 17.9672, look for 18.1164 and 18.2052.

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 stands below its 20 and 50 period moving average (respectively at 17.8515 and 17.9027).

Supports and resistances

18.2052 **

18.1164 *

17.9672 **

17.9086

17.8317 last

17.6303

17.5417 **

17.4532 *

17.3646 **

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