EUR/MXN may rise 1724 - 2567 pips

Our pivot point is at 19.4589.

Our preference

As long as 19.4589 is support look for 19.8305.

Alternative scenario

The downside breakout of 19.4589 would call for 19.3173 and 19.2331.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (19.5800) but above its 50 period moving average (19.5269).

Supports and resistances

19.9990 **

19.9148 *

19.8305 **

19.7462

19.5738 last

19.5145

19.4589 **

19.3173 *

19.2331 **

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