EUR/MXN may rise 1452 - 2124 pips

Our pivot point stands at 21.4568.

Our preference

The upside prevails as long as 21.4568 is support.

Alternative scenario

The downside breakout of 21.4568 would call for 21.3440 and 21.2769.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 21.5397 and 21.5343).

Supports and resistances

21.8922 **

21.8251 *

21.7579 **

21.6907

21.5455 last

21.5012

21.4568 **

21.3440 *

21.2769 **

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