EUR/MXN may fall 1663 - 2490 pips

21.1896 is our pivot point.

Our preference

Target 20.8247.

Alternative scenario

Above 21.1896, look for 21.3286 and 21.4113.

Comment

The RSI is below 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 (21.1238) but above its 50 period moving average (21.0349).

Supports and resistances

21.4113 **

21.3286 *

21.1896 **

21.1350

21.0737 last

20.9074

20.8247 **

20.7420 *

20.6593 **

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