USD/MXN may fall 1405 - 2033 pips

Our pivot point stands at 17.9520.

Our preference

Target 17.6407.

Alternative scenario

Above 17.9520, look for 18.0577 and 18.1206.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (17.9118) but above its 50 period moving average (17.7691).

Supports and resistances

18.1206 **

18.0577 *

17.9520 **

17.9105

17.8440 last

17.7035

17.6407 **

17.5779 *

17.5151 **

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