USD/MXN may fall 1993 - 2969 pips

Our pivot point stands at 18.1381.

Our preference

Under pressure below 18.1381.

Alternative scenario

Above 18.1381, look for 18.3025 and 18.4004.

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 trading under both its 20 and 50 period moving average (respectively at 18.0225 and 17.9965).

Supports and resistances

18.4004 **

18.3025 *

18.1381 **

18.0735

17.9700 last

17.7707

17.6731 **

17.5754 *

17.4778 **

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