USD/MXN may fall 1761 - 2579 pips

19.7231 is our pivot point.

Our preference

The downside prevails as long as 19.7231 is resistance.

Alternative scenario

The upside breakout of 19.7231, would call for 19.8607 and 19.9426.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 19.6485 and 19.6304).

Supports and resistances

19.9426 **

19.8607 *

19.7231 **

19.6691

19.6104 last

19.4343

19.3525 **

19.2706 *

19.1888 **

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