USD/MXN may fall 1929 - 2884 pips

Our pivot point stands at 18.4493.

Our preference

The downside prevails as long as 18.4493 is resistance.

Alternative scenario

Above 18.4493, look for 18.6097 and 18.7052.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.3425 and 18.3722).

Supports and resistances

18.7052 **

18.6097 *

18.4493 **

18.3862

18.3200 last

18.1271

18.0316 **

17.9362 *

17.8407 **

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