EUR/MXN may rise 1465 - 2127 pips

21.5141 is our pivot point.

Our preference

As long as 21.5141 is support look for 21.8168.

Alternative scenario

The downside breakout of 21.5141 would call for 21.4030 and 21.3368.

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 price is below its 20 period moving average (21.6165) but above its 50 period moving average (21.5639).

Supports and resistances

21.9493 **

21.8830 *

21.8168 **

21.7506

21.6041 last

21.5578

21.5141 **

21.4030 *

21.3368 **

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