EUR/MXN may rise 2172 - 3207 pips

Our pivot point is at 21.2244.

Our preference

The upside prevails as long as 21.2244 is support.

Alternative scenario

Below 21.2244, expect 21.0508 and 20.9474.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 21.2908 and 21.3810). Finally, the EUR/MXN is trading above its upper Bollinger band (standing at 21.3817).

Supports and resistances

21.9096 **

21.8060 *

21.7025 **

21.5990

21.3818 last

21.2927

21.2244 **

21.0508 *

20.9474 **

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