EUR/MXN may rise 1483 - 2121 pips

Our pivot point is at 21.1030.

Our preference

Rebound.

Alternative scenario

The downside breakout of 21.1030 would call for 20.9961 and 20.9325.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (21.1015) but below its 50 period moving average (21.2666). Finally, the EUR/MXN has crossed above its upper Bollinger band (21.2142).

Supports and resistances

21.5619 **

21.4981 *

21.4343 **

21.3705

21.2222 last

21.1450

21.1030 **

20.9961 *

20.9325 **

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