EUR/MXN may rise 1499 - 2193 pips

Our pivot point stands at 21.2395.

Our preference

The upside prevails as long as 21.2395 is support.

Alternative scenario

The downside breakout of 21.2395 would call for 21.1230 and 21.0537.

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 trading above both its 20 and 50 period moving average (respectively at 21.2993 and 21.2766).

Supports and resistances

21.6891 **

21.6197 *

21.5504 **

21.4810

21.3311 last

21.2853

21.2395 **

21.1230 *

21.0537 **

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