EUR/MXN may rise to 20.9756 - 21.7021

Our pivot point stands at 18.5182.

Our preference

As long as 18.5182 is support look for 21.7021.

Alternative scenario

The downside breakout of 18.5182 would call for 17.3006 and 16.5758.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (19.6456) but above its 50 period moving average (18.9476).

Supports and resistances

23.1552 **

22.4287 *

21.7021 **

20.9756

19.5194 last

18.9965

18.5182 **

17.3006 *

16.5758 **

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