USD/MXN may fall 1566 - 2286 pips

Our pivot point stands at 19.3472.

Our preference

The downside prevails as long as 19.3472 is resistance.

Alternative scenario

The upside breakout of 19.3472, would call for 19.4683 and 19.5403.

Comment

The RSI is below 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 19.3597 and 19.4122).

Supports and resistances

19.5403 **

19.4683 *

19.3472 **

19.2996

19.2426 last

19.0860

19.0140 **

18.9420 *

18.8700 **

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