- The Mexican peso continues to rise at a modest rate against the US dollar.
- Next potential USD / MXN target seen at 19.55 / 60.
The USD/MXN it is trading at 19.72, after touching 19.69 the lowest level since March. A consolidation below the 19.70 / 75 area would open the door to further losses. The next target is seen at 19.55 / 60; below the next strong barrier is the 19.30 area.
The main trend in USD / MXN is bearish. A correction would face initial resistance at 19.95 / 20.00. A recovery above 20.20 (horizontal resistance / 20-day moving average) would ease the downward pressure.
In a broader perspective, the negative trend will continue as long as it remains below an eight-month downtrend line, today at 21.30 / 35.
Daily chart
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