EUR/MXN may rise 1244 - 1860 pips

Our pivot point stands at 20.4381.

Our preference

Rebound towards 20.7061.

Alternative scenario

Below 20.4381, expect 20.3345 and 20.2729.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 20.5781 and 20.7307). Finally, the EUR/MXN is trading below its lower Bollinger band (standing at 20.5222).

Supports and resistances

20.8294 **

20.7677 *

20.7061 **

20.6445

20.5201 last

20.4787

20.4381 **

20.3345 *

20.2729 **

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