USD/MXN may fall 910 - 1350 pips

Our pivot point stands at 16.6732.

Our preference

The downside prevails as long as 16.6732 is resistance.

Alternative scenario

The upside breakout of 16.6732, would call for 16.7472 and 16.7912.

Comment

The RSI is below 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 16.6082 and 16.6017).

Supports and resistances

16.7912 **

16.7472 *

16.6732 **

16.6441

16.6000 last

16.5090

16.4650 **

16.4209 *

16.3769 **

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