EUR/MXN may rise 1325 - 1988 pips

Our pivot point stands at 21.5554.

Our preference

The upside prevails as long as 21.5554 is support.

Alternative scenario

The downside breakout of 21.5554 would call for 21.4440 and 21.3777.

Comment

The RSI is above its neutrality area at 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 21.6074 and 21.5139).

Supports and resistances

21.9749 **

21.9086 *

21.8423 **

21.7760

21.6435 last

21.5991

21.5554 **

21.4440 *

21.3777 **

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