EUR/MXN may fall 2162 - 3169 pips

Our pivot point is at 19.8919.

Our preference

The downside prevails as long as 19.8919 is resistance.

Alternative scenario

Above 19.8919, look for 20.0612 and 20.1620.

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 19.7594 and 19.7605).

Supports and resistances

20.1620 **

20.0612 *

19.8919 **

19.8254

19.7566 last

19.5404

19.4397 **

19.3390 *

19.2383 **

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