USD/MXN may fall 1569 - 2340 pips

Our pivot point is at 19.5683.

Our preference

The downside prevails as long as 19.5683 is resistance.

Alternative scenario

The upside breakout of 19.5683, would call for 19.6979 and 19.7750.

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 19.4792 and 19.4549).

Supports and resistances

19.7750 **

19.6979 *

19.5683 **

19.5174

19.4548 last

19.2979

19.2208 **

19.1437 *

19.0667 **

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