EUR/MXN may rise 1976 - 2934 pips

Our pivot point stands at 21.5442.

Our preference

As long as 21.5442 is support look for 21.9684.

Alternative scenario

The downside breakout of 21.5442 would call for 21.3834 and 21.2876.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 21.6680 and 21.6047).

Supports and resistances

22.1600 **

22.0642 *

21.9684 **

21.8726

21.6750 last

21.6074

21.5442 **

21.3834 *

21.2876 **

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