USD/MXN may fall 2007 - 2998 pips

Our pivot point is at 18.4881.

Our preference

The downside prevails as long as 18.4881 is resistance.

Alternative scenario

Above 18.4881, look for 18.6548 and 18.7540.

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 18.4388 and 18.4088).

Supports and resistances

18.7540 **

18.6548 *

18.4881 **

18.4226

18.3405 last

18.1398

18.0407 **

17.9415 *

17.8424 **

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