USD/MXN may fall 1817 - 2704 pips

Our pivot point stands at 17.9692.

Our preference

As long as 17.9692 is resistance expect 17.5550.

Alternative scenario

The upside breakout of 17.9692, would call for 18.1184 and 18.2072.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is below its 20 period moving average (17.8271) but above its 50 period moving average (17.8213).

Supports and resistances

18.2072 **

18.1184 *

17.9692 **

17.9106

17.8254 last

17.6437

17.5550 **

17.4664 *

17.3777 **

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