EUR/MXN may rise 2399 - 3403 pips

Our pivot point is at 21.2903.

Our preference

The upside prevails as long as 21.2903 is support.

Alternative scenario

The downside breakout of 21.2903 would call for 21.1220 and 21.0217.

Comment

The RSI is above 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 21.3936 and 21.3822).

Supports and resistances

21.9637 **

21.8633 *

21.7629 **

21.6625

21.4226 last

21.3565

21.2903 **

21.1220 *

21.0217 **

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