USD/MXN may fall 1862 - 2664 pips

Our pivot point stands at 19.0820.

Our preference

The downside prevails as long as 19.0820 is resistance.

Alternative scenario

Above 19.0820, look for 19.2168 and 19.2971.

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 stands below its 20 and 50 period moving average (respectively at 18.9902 and 18.9987).

Supports and resistances

19.2971 **

19.2168 *

19.0820 **

19.0290

18.9759 last

18.7897

18.7095 **

18.6294 *

18.5492 **

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