EUR/MXN may fall to 19.7534 - 20.2005

Our pivot point stands at 21.7880.

Our preference

The downside prevails as long as 21.7880 is resistance.

Alternative scenario

Above 21.7880, look for 22.5427 and 22.9920.

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 is trading under both its 20 and 50 period moving average (respectively at 21.4776 and 21.4492).

Supports and resistances

22.9920 **

22.5427 *

21.7880 **

21.4915

21.1478 last

20.2005

19.7534 **

19.3063 *

18.8592 **

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