USD/MXN may fall 1689 - 2507 pips

Our pivot point stands at 19.7382.

Our preference

The downside prevails as long as 19.7382 is resistance.

Alternative scenario

The upside breakout of 19.7382, would call for 19.8759 and 19.9579.

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 is trading under both its 20 and 50 period moving average (respectively at 19.6820 and 19.6576).

Supports and resistances

19.9579 **

19.8759 *

19.7382 **

19.6841

19.6131 last

19.4442

19.3624 **

19.2805 *

19.1986 **

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