EUR/MXN may rise 1297 - 1937 pips

Our pivot point stands at 19.9618.

Our preference

The upside prevails as long as 19.9618 is support.

Alternative scenario

The downside breakout of 19.9618 would call for 19.8545 and 19.7907.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 19.9747 and 19.9064). Finally, the EUR/MXN has crossed above its upper Bollinger band (20.0669).

Supports and resistances

20.3926 **

20.3287 *

20.2647 **

20.2007

20.0710 last

20.0040

19.9618 **

19.8545 *

19.7907 **

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