USD/MXN may fall 1980 - 2940 pips

18.5682 is our pivot point.

Our preference

Target 18.1340.

Alternative scenario

The upside breakout of 18.5682, would call for 18.7297 and 18.8258.

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 pair is trading under its 20 period moving average (18.4299) but above its 50 period moving average (18.4228).

Supports and resistances

18.8258 **

18.7297 *

18.5682 **

18.5048

18.4280 last

18.2300

18.1340 **

18.0380 *

17.9420 **

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