- Technical indicators have a modest bias to the upside in the short term for USD/MXN.
- The pair needs to break and hold above 20.55 to clear the way for more gains.
The USD/MXN is falling on Thursday after hitting a two-week high at 20.52 on Wednesday. The short-term bullish bias remains intact, while at the same time the dominant trend continues to point south.
The pair is correcting higher from the main downtrend after finding support at 20.25/30. A drop below 20.35 should point to a retest of the critical 20.25/20.30 area that includes the flat 200-day simple moving average.
On the upside, the daily close above 20.55 (100-day SMA) should strengthen the US dollar. The next resistance is located at 20.70 and then at 20.90.
The weekly chart showed the 20-week SMA at 20.53; a close above would be a negative development for the Mexican peso, suggesting a potential bottom has been established.
Daily USD / MXN chart
Technical levels
USD/MXN
| Panorama | |
|---|---|
| Last Price Today | 20.4428 |
| Today’s Daily Change | -0.0406 |
| Today’s Daily Change % | -0.20 |
| Today’s Daily Opening | 20.4834 |
| Trends | |
|---|---|
| 20 Daily SMA | 20.4823 |
| 50 Daily SMA | 20.8195 |
| 100 Daily SMA | 20.5596 |
| 200 Daily SMA | 20.2821 |
| levels | |
|---|---|
| Previous Daily High | 20.4955 |
| Previous Daily Minimum | 20.3252 |
| Previous Maximum Weekly | 20.524 |
| Previous Weekly Minimum | 20.2809 |
| Monthly Prior Maximum | 21.5164 |
| Previous Monthly Minimum | 20.3261 |
| Daily Fibonacci 38.2% | 20.4304 |
| Daily Fibonacci 61.8% | 20.3902 |
| Daily Pivot Point S1 | 20.3739 |
| Daily Pivot Point S2 | 20.2644 |
| Daily Pivot Point S3 | 20.2036 |
| Daily Pivot Point R1 | 20.5442 |
| Daily Pivot Point R2 | 20.605 |
| Daily Pivot Point R3 | 20.7146 |
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