EUR/MXN may rise 2111 - 2898 pips

Our pivot point is at 20.5321.

Our preference

The upside prevails as long as 20.5321 is support.

Alternative scenario

The downside breakout of 20.5321 would call for 20.4003 and 20.3218.

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 20.5797 and 20.5376).

Supports and resistances

21.0980 **

21.0193 *

20.9406 **

20.8619

20.6508 last

20.5839

20.5321 **

20.4003 *

20.3218 **

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