Bouncing from key support, further gains above 20.00

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  • The Mexican peso consolidates recent gains against the US dollar, unable to break below 19.80.
  • USD / MXN is likely to extend gains with a breakout above 20.00.

USD / MXN traded sideways on Tuesday, after bouncing again from near the 19.80 zone. The mentioned level has become a key support zone; a daily close below would clear the way for further losses, targeting 19.70. If the decline continues, the focus would be on the 19.50 area.

Around 19.98, the 20 and 55 day moving averages are seen. A pof break above is confirmed with a close above 20.00, and would ease downward pressure, suggesting more gains ahead. The next relevant hurdle is around 20.25.

In the short term, technical indicators are showing mixed signs and the key SMA is flat. The absence of a break below 19.80 should favor an upward correction. A weekly close above 20.15 should warn of a possible rally at 20.60, while below 19.70 at 19.45.

Daily USD / MXN chart

USD/MXN

Overview
Today last price 19.8984
Today I change daily -0.0080
Today daily change% -0.04
Today they open every day 19.9064
Trends
Daily SMA20 19.9806
SMA50 daily 19.9895
SMA100 daily 20.0781
SMA200 daily 20.1742
Levels
Previous Daily High 19.9288
Previous Daily Low 19.8037
Previous weekly high 20.1648
Previous Weekly Low 19.8004
Previous monthly maximum 20.2515
Previous Monthly Low 19.7458
Daily Fibonacci 38.2% 19.881
Daily Fibonacci 61.8% 19.8515
Daily Pivot Point S1 19.8305
S2 daily pivot point 19.7545
S3 Daily Pivot Point 19.7054
R1 daily pivot point 19.9556
Daily pivot point R2 20.0047
R3 daily pivot point 20.0807

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