USD/MXN may fall 1328 - 1957 pips

Our pivot point is at 20.0390.

Our preference

The downside prevails as long as 20.0390 is resistance.

Alternative scenario

The upside breakout of 20.0390, would call for 20.1448 and 20.2078.

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 stands below its 20 and 50 period moving average (respectively at 19.9635 and 19.9615).

Supports and resistances

20.2078 **

20.1448 *

20.0390 **

19.9975

19.9549 last

19.8221

19.7592 **

19.6963 *

19.6333 **

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