USD/MXN may fall 1778 - 2597 pips

Our pivot point stands at 19.7732.

Our preference

Under pressure below 19.7732.

Alternative scenario

The upside breakout of 19.7732, would call for 19.9112 and 19.9933.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 19.6675 and 19.6360).

Supports and resistances

19.9933 **

19.9112 *

19.7732 **

19.7190

19.6240 last

19.4462

19.3643 **

19.2824 *

19.2006 **

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