USD/MXN may fall 1860 - 2759 pips

19.2846 is our pivot point.

Our preference

The downside prevails as long as 19.2846 is resistance.

Alternative scenario

The upside breakout of 19.2846, would call for 19.4357 and 19.5257.

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 19.2291 and 19.2223).

Supports and resistances

19.5257 **

19.4357 *

19.2846 **

19.2252

19.1567 last

18.9707

18.8808 **

18.7908 *

18.7009 **

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