EUR/MXN may fall 2015 - 3013 pips

Our pivot point is at 19.7019.

Our preference

The downside prevails as long as 19.7019 is resistance.

Alternative scenario

Above 19.7019, look for 19.8696 and 19.9694.

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 19.6307 and 19.6676). Finally, the EUR/MXN has penetrated its lower Bollinger band (19.5722).

Supports and resistances

19.9694 **

19.8696 *

19.7019 **

19.6360

19.5701 last

19.3686

19.2688 **

19.1690 *

19.0692 **

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