EUR/MXN may fall 1672 - 2464 pips

Our pivot point stands at 20.9497.

Our preference

The downside prevails as long as 20.9497 is resistance.

Alternative scenario

The upside breakout of 20.9497, would call for 21.0829 and 21.1621.

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 stands below its 20 and 50 period moving average (respectively at 20.8646 and 20.8467).

Supports and resistances

21.1621 **

21.0829 *

20.9497 **

20.8974

20.8451 last

20.6779

20.5987 **

20.5195 *

20.4403 **

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