USD/MXN may fall 1573 - 2334 pips

19.3447 is our pivot point.

Our preference

Technical rebound towards 19.3447 before a new drop.

Alternative scenario

The upside breakout of 19.3447, would call for 19.4728 and 19.5491.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (19.2062) but under its 50 period moving average (19.2274).

Supports and resistances

19.5491 **

19.4728 *

19.3447 **

19.2944

19.2121 last

19.0548

18.9787 **

18.9026 *

18.8265 **

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