EUR/MXN may rise 1488 - 2196 pips

Our pivot point stands at 19.3637.

Our preference

As long as 19.3637 is support look for 19.7177.

Alternative scenario

The downside breakout of 19.3637 would call for 19.2451 and 19.1744.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (19.5232) but above its 50 period moving average (19.3266).

Supports and resistances

19.8593 **

19.7885 *

19.7177 **

19.6469

19.4981 last

19.4103

19.3637 **

19.2451 *

19.1744 **

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