USD/MXN may fall 1205 - 1792 pips

Our pivot point is at 19.5086.

Our preference

The downside prevails as long as 19.5086 is resistance.

Alternative scenario

Above 19.5086, look for 19.6074 and 19.6662.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 19.4410 and 19.4734). Finally, the USD/MXN is trading below its lower Bollinger band (standing at 19.4158).

Supports and resistances

19.6662 **

19.6074 *

19.5086 **

19.4698

19.4110 last

19.2905

19.2318 **

19.1731 *

19.1143 **

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