EUR/MXN may fall 2093 - 3134 pips

Our pivot point stands at 19.7850.

Our preference

The downside prevails as long as 19.7850 is resistance.

Alternative scenario

Above 19.7850, look for 19.9601 and 20.0643.

Comment

The RSI is below 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 19.7273 and 19.6989).

Supports and resistances

20.0643 **

19.9601 *

19.7850 **

19.7162

19.6234 last

19.4141

19.3100 **

19.2059 *

19.1018 **

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