EUR/MXN may fall 1935 - 2902 pips

Our pivot point is at 22.0598.

Our preference

The downside prevails as long as 22.0598 is resistance.

Alternative scenario

Above 22.0598, look for 22.2226 and 22.3195.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 22.0183 and 21.9315).

Supports and resistances

22.3195 **

22.2226 *

22.0598 **

21.9958

21.8914 last

21.6979

21.6012 **

21.5044 *

21.4077 **

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