EUR/XXX was bid across the board today, and EUR/MXN was no different. The risk is a break of the 26.4700 could be a bullish development, which could allow for a move back tot he 27.5700 127% extension if a breakout occurs. Likely, this would coincide with some “risk off” if it were to happen. So, if = EUR/MXN is breaking out, you may want to keep an eye on the the S&P 500 or other equity markets as downside may pickup some selling pressure as well.
EUR/MXN 1-Day Chart.