EUR/MXN may rise 1824 - 2737 pips

Our pivot point stands at 19.9028.

Our preference

The upside prevails as long as 19.9028 is support.

Alternative scenario

The downside breakout of 19.9028 would call for 19.7495 and 19.6583.

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 19.9702 and 19.8749).

Supports and resistances

20.4793 **

20.3881 *

20.2969 **

20.2056

20.0232 last

19.9630

19.9028 **

19.7495 *

19.6583 **

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