USD/MXN may fall to 15.7157 - 16.3828

18.6921 is our pivot point.

Our preference

Target 15.7157.

Alternative scenario

The upside breakout of 18.6921, would call for 19.8185 and 20.4890.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (18.1972) but above its 50 period moving average (17.5077).

Supports and resistances

20.4890 **

19.8185 *

18.6921 **

18.2496

17.7370 last

16.3828

15.7157 **

15.0486 *

14.3815 **

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