EUR/MXN may rise 1495 - 2215 pips

19.7150 is our pivot point.

Our preference

The upside prevails as long as 19.7150 is support.

Alternative scenario

The downside breakout of 19.7150 would call for 19.5942 and 19.5222.

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 19.7665 and 19.6975).

Supports and resistances

20.1959 **

20.1239 *

20.0519 **

19.9799

19.8304 last

19.7624

19.7150 **

19.5942 *

19.5222 **

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