USD/MXN may fall 1763 - 2563 pips

Our pivot point is at 19.0471.

Our preference

The downside prevails as long as 19.0471 is resistance.

Alternative scenario

The upside breakout of 19.0471, would call for 19.1818 and 19.2619.

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 18.9638 and 18.9890).

Supports and resistances

19.2619 **

19.1818 *

19.0471 **

18.9943

18.9392 last

18.7629

18.6829 **

18.6028 *

18.5228 **

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