USD/MXN may fall 1479 - 2099 pips

Our pivot point stands at 17.7170.

Our preference

The downside prevails as long as 17.7170 is resistance.

Alternative scenario

Above 17.7170, look for 17.8213 and 17.8833.

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 stands below its 20 and 50 period moving average (respectively at 17.7354 and 17.8145).

Supports and resistances

17.8833 **

17.8213 *

17.7170 **

17.6760

17.6270 last

17.4791

17.4171 **

17.3551 *

17.2931 **

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