EUR/MXN may rise 591 - 887 pips

Our pivot point stands at 18.3889.

Our preference

As long as 18.3889 is support look for 18.5251.

Alternative scenario

Below 18.3889, expect 18.3393 and 18.3097.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.4149 and 18.3319).

Supports and resistances

18.5842 **

18.5546 *

18.5251 **

18.4955

18.4364 last

18.4084

18.3889 **

18.3393 *

18.3097 **

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