EUR/MXN may fall to 17.1379 - 17.4124

Our pivot point stands at 18.3608.

Our preference

The downside prevails as long as 18.3608 is resistance.

Alternative scenario

The upside breakout of 18.3608, would call for 18.8229 and 19.0980.

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 is trading under both its 20 and 50 period moving average (respectively at 18.1685 and 18.0686).

Supports and resistances

19.0980 **

18.8229 *

18.3608 **

18.1793

17.9658 last

17.4124

17.1379 **

16.8634 *

16.5888 **

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