USD/MXN may fall 1281 - 1869 pips

Our pivot point stands at 19.5380.

Our preference

The downside prevails as long as 19.5380 is resistance.

Alternative scenario

Above 19.5380, look for 19.6369 and 19.6957.

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 19.4729 and 19.4817).

Supports and resistances

19.6957 **

19.6369 *

19.5380 **

19.4992

19.4575 last

19.3294

19.2706 **

19.2117 *

19.1529 **

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