EUR/MXN may rise 2702 - 3751 pips

Our pivot point stands at 21.4686.

Our preference

Rebound towards 21.9817.

Alternative scenario

The downside breakout of 21.4686 would call for 21.2929 and 21.1883.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 21.6260 and 21.6607).

Supports and resistances

22.1914 **

22.0866 *

21.9817 **

21.8768

21.6066 last

21.5376

21.4686 **

21.2929 *

21.1883 **

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