USD/MXN may fall 2005 - 2958 pips

18.4362 is our pivot point.

Our preference

The downside prevails as long as 18.4362 is resistance.

Alternative scenario

The upside breakout of 18.4362, would call for 18.5965 and 18.6920.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.3257 and 18.3524).

Supports and resistances

18.6920 **

18.5965 *

18.4362 **

18.3733

18.2989 last

18.0984

18.0031 **

17.9078 *

17.8124 **

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