EUR/MXN may fall 1725 - 2513 pips

20.8444 is our pivot point.

Our preference

The downside prevails as long as 20.8444 is resistance.

Alternative scenario

The upside breakout of 20.8444, would call for 20.9769 and 21.0557.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 20.7931 and 20.7563).

Supports and resistances

21.0557 **

20.9769 *

20.8444 **

20.7923

20.7394 last

20.5669

20.4881 **

20.4093 *

20.3305 **

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