EUR/MXN may fall 2193 - 3230 pips

Our pivot point is at 19.6952.

Our preference

The downside prevails as long as 19.6952 is resistance.

Alternative scenario

Above 19.6952, look for 19.8696 and 19.9734.

Comment

The RSI is below its neutrality area at 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 19.5664 and 19.5761).

Supports and resistances

19.9734 **

19.8696 *

19.6952 **

19.6267

19.5564 last

19.3371

19.2334 **

19.1296 *

19.0259 **

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