EUR/MXN may rise to 21.9573 - 22.5067

Our pivot point is at 20.0049.

Our preference

The upside prevails as long as 20.0049 is support.

Alternative scenario

The downside breakout of 20.0049 would call for 19.0877 and 18.5418.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 20.2958 and 19.8627).

Supports and resistances

23.6056 **

23.0561 *

22.5067 **

21.9573

20.7342 last

20.3652

20.0049 **

19.0877 *

18.5418 **

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