USD/MXN may fall 2033 - 3030 pips

18.5876 is our pivot point.

Our preference

Target 18.1420.

Alternative scenario

The upside breakout of 18.5876, would call for 18.7552 and 18.8550.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (18.4662) but above its 50 period moving average (18.4010).

Supports and resistances

18.8550 **

18.7552 *

18.5876 **

18.5218

18.4450 last

18.2417

18.1420 **

18.0423 *

17.9427 **

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