EUR/MXN may rise 746 - 1042 pips

Our pivot point is at 18.3970.

Our preference

As long as 18.3970 is support look for 18.5450.

Alternative scenario

The downside breakout of 18.3970 would call for 18.3473 and 18.3178.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.4352 and 18.4131).

Supports and resistances

18.6041 **

18.5746 *

18.5450 **

18.5154

18.4408 last

18.4165

18.3970 **

18.3473 *

18.3178 **

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