USD/MXN may fall 1539 - 2289 pips

19.0622 is our pivot point.

Our preference

Target 18.7248.

Alternative scenario

The upside breakout of 19.0622, would call for 19.1884 and 19.2635.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (18.9933) but above its 50 period moving average (18.9281). Finally, the USD/MXN has penetrated its lower Bollinger band (18.9550).

Supports and resistances

19.2635 **

19.1884 *

19.0622 **

19.0126

18.9537 last

18.7998

18.7248 **

18.6497 *

18.5746 **

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