EUR/MXN may fall to 19.7185 - 20.1948

Our pivot point is at 21.8900.

Our preference

The downside prevails as long as 21.8900 is resistance.

Alternative scenario

Above 21.8900, look for 22.6944 and 23.1733.

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 21.5480 and 21.4103).

Supports and resistances

23.1733 **

22.6944 *

21.8900 **

21.5740

21.2392 last

20.1948

19.7185 **

19.2421 *

18.7658 **

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