USD/MXN may fall 2022 - 2902 pips

Our pivot point stands at 17.8434.

Our preference

The downside prevails as long as 17.8434 is resistance.

Alternative scenario

The upside breakout of 17.8434, would call for 17.9916 and 18.0797.

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 17.7541 and 17.7766).

Supports and resistances

18.0797 **

17.9916 *

17.8434 **

17.7852

17.7241 last

17.5219

17.4339 **

17.3458 *

17.2578 **

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