USD/MXN may fall 2091 - 3050 pips

18.5507 is our pivot point.

Our preference

Under pressure below 18.5507.

Alternative scenario

The upside breakout of 18.5507, would call for 18.7120 and 18.8081.

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 trading under both its 20 and 50 period moving average (respectively at 18.4320 and 18.4261).

Supports and resistances

18.8081 **

18.7120 *

18.5507 **

18.4874

18.4163 last

18.2072

18.1113 **

18.0155 *

17.9196 **

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