USD/MXN may fall 1413 - 2068 pips

Our pivot point is at 19.9030.

Our preference

The downside prevails as long as 19.9030 is resistance.

Alternative scenario

The upside breakout of 19.9030, would call for 20.0132 and 20.0787.

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 19.8505 and 19.8957).

Supports and resistances

20.0787 **

20.0132 *

19.9030 **

19.8598

19.8083 last

19.6670

19.6015 **

19.5360 *

19.4705 **

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