USD/MXN may fall 2023 - 2999 pips

18.1123 is our pivot point.

Our preference

The downside prevails as long as 18.1123 is resistance.

Alternative scenario

Above 18.1123, look for 18.2765 and 18.3742.

Comment

The RSI is below its neutrality area at 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 18.0186 and 17.9949).

Supports and resistances

18.3742 **

18.2765 *

18.1123 **

18.0478

17.9740 last

17.7717

17.6741 **

17.5764 *

17.4788 **

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