USD/MXN may fall 1698 - 2417 pips

19.3391 is our pivot point.

Our preference

The downside prevails as long as 19.3391 is resistance.

Alternative scenario

Above 19.3391, look for 19.4602 and 19.5322.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 19.2727 and 19.2663).

Supports and resistances

19.5322 **

19.4602 *

19.3391 **

19.2916

19.2290 last

19.0592

18.9873 **

18.9154 *

18.8435 **

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