EUR/MXN may rise to 22.5452 - 23.0117

Our pivot point is at 20.8930.

Our preference

The upside prevails as long as 20.8930 is support.

Alternative scenario

The downside breakout of 20.8930 would call for 20.1131 and 19.6489.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 21.4925 and 21.5338).

Supports and resistances

23.9448 **

23.4782 *

23.0117 **

22.5452

21.5604 last

21.1994

20.8930 **

20.1131 *

19.6489 **

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