EUR/MXN may rise 1323 - 1979 pips

21.3515 is our pivot point.

Our preference

As long as 21.3515 is support look for 21.6401.

Alternative scenario

The downside breakout of 21.3515 would call for 21.2413 and 21.1757.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (21.4527) but above its 50 period moving average (21.3297).

Supports and resistances

21.7713 **

21.7057 *

21.6401 **

21.5745

21.4422 last

21.3948

21.3515 **

21.2413 *

21.1757 **

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