EUR/MXN may rise 2116 - 2962 pips

Our pivot point stands at 21.3947.

Our preference

As long as 21.3947 is support look for 21.8023.

Alternative scenario

Below 21.3947, expect 21.2529 and 21.1685.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (21.5179) but above its 50 period moving average (21.4031).

Supports and resistances

21.9714 **

21.8869 *

21.8023 **

21.7177

21.5061 last

21.4504

21.3947 **

21.2529 *

21.1685 **

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