USD/MXN may fall 2163 - 3021 pips

Our pivot point stands at 18.7905.

Our preference

Technical rebound towards 18.7905 before a new drop.

Alternative scenario

Above 18.7905, look for 18.9351 and 19.0211.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (18.6464) but under its 50 period moving average (18.6762).

Supports and resistances

19.0211 **

18.9351 *

18.7905 **

18.7338

18.6722 last

18.4559

18.3701 **

18.2843 *

18.1986 **

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