EUR/MXN may fall 800 - 1197 pips

Our pivot point is at 18.0680.

Our preference

The downside prevails as long as 18.0680 is resistance.

Alternative scenario

The upside breakout of 18.0680, would call for 18.1347 and 18.1745.

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 stands below its 20 and 50 period moving average (respectively at 18.0343 and 18.0231). Finally, the EUR/MXN is trading below its lower Bollinger band (standing at 18.0142).

Supports and resistances

18.1745 **

18.1347 *

18.0680 **

18.0417

18.0096 last

17.9296

17.8899 **

17.8502 *

17.8105 **

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