USD/MXN may fall 1719 - 2480 pips

19.3414 is our pivot point.

Our preference

Technical rebound towards 19.3414 before a new drop.

Alternative scenario

Above 19.3414, look for 19.4695 and 19.5457.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (19.1923) but under its 50 period moving average (19.2378).

Supports and resistances

19.5457 **

19.4695 *

19.3414 **

19.2911

19.2208 last

19.0489

18.9728 **

18.8967 *

18.8206 **

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