EUR/MXN may fall 1388 - 2078 pips

21.3225 is our pivot point.

Our preference

Under pressure below 21.3225.

Alternative scenario

Above 21.3225, look for 21.4385 and 21.5075.

Comment

The RSI is below its neutrality area at 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 trading under both its 20 and 50 period moving average (respectively at 21.2290 and 21.2208).

Supports and resistances

21.5075 **

21.4385 *

21.3225 **

21.2770

21.2188 last

21.0800

21.0110 **

20.9421 *

20.8731 **

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