USD/MXN may fall 1774 - 2656 pips

Our pivot point is at 17.8625.

Our preference

The downside prevails as long as 17.8625 is resistance.

Alternative scenario

Above 17.8625, look for 18.0108 and 18.0991.

Comment

The RSI is below 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 17.7586 and 17.7822).

Supports and resistances

18.0991 **

18.0108 *

17.8625 **

17.8043

17.7280 last

17.5506

17.4624 **

17.3743 *

17.2861 **

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