EUR/MXN may rise 1906 - 2721 pips

20.6357 is our pivot point.

Our preference

The upside prevails as long as 20.6357 is support.

Alternative scenario

The downside breakout of 20.6357 would call for 20.4989 and 20.4175.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 20.7067 and 20.7012).

Supports and resistances

21.1815 **

21.1000 *

21.0184 **

20.9369

20.7463 last

20.6894

20.6357 **

20.4989 *

20.4175 **

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