USD/MXN may fall 1989 - 2951 pips

Our pivot point is at 17.8542.

Our preference

Under pressure below 17.8542.

Alternative scenario

Above 17.8542, look for 18.0160 and 18.1124.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 17.7238 and 17.7304).

Supports and resistances

18.1124 **

18.0160 *

17.8542 **

17.7906

17.7124 last

17.5135

17.4173 **

17.3211 *

17.2249 **

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