EUR/MXN may rise 2081 - 3120 pips

Our pivot point stands at 19.4269.

Our preference

The upside prevails as long as 19.4269 is support.

Alternative scenario

Below 19.4269, expect 19.2525 and 19.1486.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19.5538 and 19.5551). Finally, the EUR/MXN is trading above its upper Bollinger band (standing at 19.5714).

Supports and resistances

20.0948 **

19.9909 *

19.8871 **

19.7832

19.5751 last

19.4954

19.4269 **

19.2525 *

19.1486 **

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