EUR/MXN may rise 1028 - 1541 pips

Our pivot point is at 20.3926.

Our preference

As long as 20.3926 is support look for 20.6342.

Alternative scenario

The downside breakout of 20.3926 would call for 20.3065 and 20.2553.

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 trading above both its 20 and 50 period moving average (respectively at 20.4330 and 20.2836).

Supports and resistances

20.7368 **

20.6855 *

20.6342 **

20.5829

20.4801 last

20.4264

20.3926 **

20.3065 *

20.2553 **

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