EUR/MXN may fall 1010 - 1514 pips

Our pivot point stands at 20.2620.

Our preference

The downside prevails as long as 20.2620 is resistance.

Alternative scenario

Above 20.2620, look for 20.3469 and 20.3975.

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 20.1889 and 20.2106).

Supports and resistances

20.3975 **

20.3469 *

20.2620 **

20.2286

20.1533 last

20.0523

20.0019 **

19.9514 *

19.9009 **

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