EUR/MXN may fall to 17.5800 - 18.1560

Our pivot point stands at 20.1559.

Our preference

Target 17.5800.

Alternative scenario

Above 20.1559, look for 21.1277 and 21.7062.

Comment

The RSI is below 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 (19.4920) but above its 50 period moving average (19.0550).

Supports and resistances

21.7062 **

21.1277 *

20.1559 **

19.7741

19.3436 last

18.1560

17.5800 **

17.0041 *

16.4281 **

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