EUR/MXN may rise 1742 - 2434 pips

Our pivot point is at 21.1361.

Our preference

The upside prevails as long as 21.1361 is support.

Alternative scenario

The downside breakout of 21.1361 would call for 21.0202 and 20.9512.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 21.2039 and 21.1928).

Supports and resistances

21.6118 **

21.5427 *

21.4736 **

21.4044

21.2302 last

21.1817

21.1361 **

21.0202 *

20.9512 **

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