USD/MXN may fall to 18.0370 - 18.4813

Our pivot point is at 20.0338.

Our preference

Target 18.0370.

Alternative scenario

The upside breakout of 20.0338, would call for 20.7832 and 21.2292.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (19.4268) but above its 50 period moving average (19.2679).

Supports and resistances

21.2292 **

20.7832 *

20.0338 **

19.7394

19.3820 last

18.4813

18.0370 **

17.5926 *

17.1483 **

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