EUR/MXN may rise 1598 - 2385 pips

Our pivot point stands at 20.5884.

Our preference

Rebound towards 20.9349.

Alternative scenario

The downside breakout of 20.5884 would call for 20.4562 and 20.3776.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 20.6966 and 20.7423).

Supports and resistances

21.0923 **

21.0136 *

20.9349 **

20.8562

20.6964 last

20.6403

20.5884 **

20.4562 *

20.3776 **

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