USD/MXN may fall 1633 - 2383 pips

19.0486 is our pivot point.

Our preference

The downside prevails as long as 19.0486 is resistance.

Alternative scenario

The upside breakout of 19.0486, would call for 19.1747 and 19.2498.

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 18.9830 and 18.9412).

Supports and resistances

19.2498 **

19.1747 *

19.0486 **

18.9990

18.9408 last

18.7775

18.7025 **

18.6275 *

18.5526 **

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