EUR/MXN may rise 1127 - 1633 pips

Our pivot point is at 20.1004.

Our preference

As long as 20.1004 is support look for 20.3464.

Alternative scenario

The downside breakout of 20.1004 would call for 20.0155 and 19.9650.

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 above its 20 and 50 period moving average (respectively at 20.1821 and 20.1475).

Supports and resistances

20.4475 **

20.3970 *

20.3464 **

20.2958

20.1831 last

20.1337

20.1004 **

20.0155 *

19.9650 **

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