USD/MXN may fall 1751 - 2598 pips

Our pivot point is at 19.8560.

Our preference

The downside prevails as long as 19.8560 is resistance.

Alternative scenario

The upside breakout of 19.8560, would call for 19.9985 and 20.0834.

Comment

The RSI is below 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 19.7701 and 19.8097).

Supports and resistances

20.0834 **

19.9985 *

19.8560 **

19.8000

19.7246 last

19.5495

19.4648 **

19.3801 *

19.2953 **

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