USD/MXN may fall 2050 - 3049 pips

Our pivot point stands at 18.5856.

Our preference

Target 18.1384.

Alternative scenario

The upside breakout of 18.5856, would call for 18.7535 and 18.8534.

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 is below its 20 period moving average (18.4566) but above its 50 period moving average (18.4268).

Supports and resistances

18.8534 **

18.7535 *

18.5856 **

18.5196

18.4433 last

18.2383

18.1384 **

18.0386 *

17.9387 **

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