EUR/MXN may rise 1747 - 2590 pips

Our pivot point stands at 19.4639.

Our preference

As long as 19.4639 is support look for 19.8358.

Alternative scenario

Below 19.4639, expect 19.3224 and 19.2381.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (19.5805) but above its 50 period moving average (19.4963).

Supports and resistances

20.0045 **

19.9202 *

19.8358 **

19.7515

19.5768 last

19.5196

19.4639 **

19.3224 *

19.2381 **

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