USD/MXN may fall 1785 - 2644 pips

Our pivot point stands at 18.8056.

Our preference

As long as 18.8056 is resistance look for 18.3864.

Alternative scenario

Above 18.8056, look for 18.9503 and 19.0363.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.6625 and 18.6566).

Supports and resistances

19.0363 **

18.9503 *

18.8056 **

18.7488

18.6508 last

18.4723

18.3864 **

18.3005 *

18.2147 **

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