EUR/MXN – Currency exchange rate forecast 23.08.2019: the downside prevails as long as 21.9228 is resistance

EUR/MXN - Currency exchange rate forecast 23.08.2019: the downside prevails as long as 21.9228 is resistance

Alternative scenario: the upside breakout of 21.9228 would call for 21.9796 and 22.0134.

Our pivot point stands at 21.9228.

Our preference: the downside prevails as long as 21.9228 is resistance.

Alternative scenario: the upside breakout of 21.9228, would call for 21.9796 and 22.0134.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 21.9148 and 21.9142).

Supports and resistances:

22.0134 **

21.9796 *

21.9228 **

21.9005

21.8748 last

21.8037

21.7699 **

21.7361 *

21.7024 **

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