EUR/MXN may rise 2226 - 3265 pips

Our pivot point stands at 19.1992.

Our preference

The upside prevails as long as 19.1992 is support.

Alternative scenario

Below 19.1992, expect 19.0247 and 18.9209.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 19.3210 and 19.3028). Finally, the EUR/MXN is trading above its upper Bollinger band (standing at 19.3344).

Supports and resistances

19.8708 **

19.7669 *

19.6629 **

19.5590

19.3364 last

19.2678

19.1992 **

19.0247 *

18.9209 **

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