- USD/MXN falls below the 200-day SMA.
- The outlook favors the downside, price will face strong support at 20.30 and 20.05.
- Any dollar recovery below 20.70 is likely to be unstable.
The USD/MXN recorded the first daily close in months below the 200-day moving average and slightly below the 20.30 level on Wednesday. The 20.35/30 zone was a strong barrier and as long as the cross remains below, more losses are on the table.
The next support is at 20.15 and a more relevant one emerges below it at 20.00/05. A USD/MXN recovery could take the price quickly to 20.45 but should be seen as a correction. Critical resistance at the moment is seen around 20.70, the confluence of horizontal support, key MA and a downtrend line. A breakout to the upside would change the short-term bias from bearish to neutral/bullish.
Technical indicators look bearish. The RSI is approaching 70 and flattening out, a potential sign of exhaustion, not necessarily followed by a sharp correction. A consolidation is also possible, particularly if USD/MXN rises back above 20.30.
daily chart
Additional technical levels
EUR/USD
Panorama | |
---|---|
Last Price Today | 1.1363 |
Today’s Daily Change | -0.0019 |
Today’s Daily Change % | -0.17 |
Today’s Daily Opening | 1.1382 |
Trends | |
---|---|
20 Daily SMA | 1.1329 |
50 Daily SMA | 1.1329 |
100 Daily SMA | 1.1404 |
200 Daily SMA | 1,165 |
levels | |
---|---|
Previous Daily High | 1.1396 |
Previous Daily Minimum | 1.1345 |
Previous Maximum Weekly | 1.1495 |
Previous Weekly Minimum | 1,133 |
Monthly Prior Maximum | 1.1483 |
Previous Monthly Minimum | 1.1121 |
Daily Fibonacci 38.2% | 1.1376 |
Daily Fibonacci 61.8% | 1.1365 |
Daily Pivot Point S1 | 1.1353 |
Daily Pivot Point S2 | 1.1323 |
Daily Pivot Point S3 | 1.1302 |
Daily Pivot Point R1 | 1.1404 |
Daily Pivot Point R2 | 1.1425 |
Daily Pivot Point R3 | 1.1454 |
Source: Fx Street

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