EUR/MXN may rise 1384 - 2046 pips

Our pivot point stands at 21.5384.

Our preference

The upside prevails as long as 21.5384 is support.

Alternative scenario

Below 21.5384, expect 21.4272 and 21.3611.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 21.6160 and 21.6038).

Supports and resistances

21.9626 **

21.8965 *

21.8303 **

21.7641

21.6257 last

21.5820

21.5384 **

21.4272 *

21.3611 **

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