EUR/MXN may rise 1238 - 1856 pips

Our pivot point stands at 20.4459.

Our preference

Our next up target stands at 20.7586.

Alternative scenario

The downside breakout of 20.4459 would call for 20.3423 and 20.2806.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 20.5473 and 20.5556).

Supports and resistances

20.8822 **

20.8204 *

20.7586 **

20.6968

20.5730 last

20.4866

20.4459 **

20.3423 *

20.2806 **

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