- The Mexican peso maintains recent gains against the US dollar.
- USD / MXN consolidates with a bearish bias, to the downside below 21.30.
- The primary trend is still bullish, the next strong support is at 20.90.
The USD/MXN It falls again on Monday but remains above the 21.00 area, but below the relevant technical support of 21.30. It is hovering around 21.20, so another test of 21.15 should not be ruled out for the next sessions.
A dip below 21.15 would expose two strong support levels: 21.05 and 20.90 which will likely hold, favoring a bounce to 21.30. A close below 20.90 would be a positive technical development for the Mexican peso that could fall further to test the uptrend line at 20.50.
On the upside, a firm recovery above 21.45 would ease the negative pressure. At the moment, there are no signs of a resumption of the primary uptrend. USD / MXN continues from a consolidation range probably between 21.15 and 21.65. A break above 21.70 would expose the 22.00 zone.
Daily USD / MXN chart
Technical levels
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