USD/MXN may fall 1834 - 2684 pips

Our pivot point is at 18.8859.

Our preference

Under pressure below 18.8859.

Alternative scenario

The upside breakout of 18.8859, would call for 19.0290 and 19.1142.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.7800 and 18.7659).

Supports and resistances

19.1142 **

19.0290 *

18.8859 **

18.8297

18.7534 last

18.5700

18.4850 **

18.3999 *

18.3149 **

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