EUR/MXN may fall 1303 - 1941 pips

Our pivot point is at 20.1146.

Our preference

Target 19.8155.

Alternative scenario

Above 20.1146, look for 20.2218 and 20.2856.

Comment

The RSI is below its neutrality area at 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 (20.0365) but above its 50 period moving average (20.0033).

Supports and resistances

20.2856 **

20.2218 *

20.1146 **

20.0724

20.0096 last

19.8793

19.8155 **

19.7518 *

19.6880 **

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