EUR/MXN may rise 1410 - 2080 pips

Our pivot point is at 21.3724.

Our preference

As long as 21.3724 is support look for 21.6716.

Alternative scenario

Below 21.3724, expect 21.2601 and 21.1932.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 21.4612 and 21.4232).

Supports and resistances

21.8054 **

21.7385 *

21.6716 **

21.6046

21.4636 last

21.4166

21.3724 **

21.2601 *

21.1932 **

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