- The Mexican peso spreads monthly gains against the US dollar.
- USD / MXN breaks the uptrend line and tests the 100-day moving average.
The USD/MXN it is falling again on Thursday and is testing the 20.45 / 50 support area. It reached the lowest level since mid-November. Now the 20.58 level has become the immediate resistance.
The area around 20.50 also contains the 100-day SMA. A daily close below would be the first since September.
Technical indicators are pointing lower. The daily RSI is not at oversold levels yet, suggesting that the decline could continue in the near term, particularly if the support at 20.45 is broken. The next critical support is at 20.30.
A recovery above 20.60 should ease the downward pressure. While the next resistance is at 20.70. A level that should favor a decline if it is reached in the short term. The 20.90 area is critical: if the dollar rises above it could cancel out the current negative bias, favoring a consolidation. Only above 9.30 pm, the dollar would start to look stronger.
Daily chart
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