USD/MXN may fall 1440 - 2160 pips

Our pivot point stands at 19.3806.

Our preference

The downside prevails as long as 19.3806 is resistance.

Alternative scenario

The upside breakout of 19.3806, would call for 19.5019 and 19.5742.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 19.2665 and 19.2577).

Supports and resistances

19.5742 **

19.5019 *

19.3806 **

19.3330

19.2290 last

19.0850

19.0130 **

18.9410 *

18.8690 **

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