EUR/MXN may fall 1346 - 1980 pips

Our pivot point stands at 19.9878.

Our preference

The downside prevails as long as 19.9878 is resistance.

Alternative scenario

The upside breakout of 19.9878, would call for 20.0944 and 20.1578.

Comment

The RSI is below 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 19.9752 and 19.9890).

Supports and resistances

20.1578 **

20.0944 *

19.9878 **

19.9460

19.8958 last

19.7612

19.6978 **

19.6344 *

19.5710 **

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