EUR/MXN may rise 1784 - 2328 pips

21.4197 is our pivot point.

Our preference

As long as 21.4197 is support look for 21.8554.

Alternative scenario

The downside breakout of 21.4197 would call for 21.3293 and 21.2755.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 21.3795 and 20.9724).

Supports and resistances

21.9640 **

21.9097 *

21.8554 **

21.8010

21.6226 last

21.4553

21.4197 **

21.3293 *

21.2755 **

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