USD/MXN may fall 782 - 1114 pips

16.8178 is our pivot point.

Our preference

Eye 16.6516.

Alternative scenario

The upside breakout of 16.8178, would call for 16.8735 and 16.9067.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under its 20 period moving average (16.7804) but above its 50 period moving average (16.7550).

Supports and resistances

16.9067 **

16.8735 *

16.8178 **

16.7959

16.7630 last

16.6848

16.6516 **

16.6185 *

16.5854 **

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