- USD / MXN falls for the third day in a row, still above the critical support at 19.75.
- The outlook is for more gains for the MXN, below 19.70 it will probably fall towards 19.50.
The USD/MXN remains under pressure amid a stronger Mexican peso after Mexico’s midterm elections. The pair falls for the third day in a row and continues to press the 19.70 / 75 area.
A daily close clearly below 19.75 would favor further losses potentially targeting the area around 19.50 with intermediate support seen at 19.65. Technical indicators also favor the downside and also short-term moving averages.
A recovery above 19.85 would ease the bearish momentum. Still, a rally above 20.00 is needed to nullify the current negative tone in USD / MXN. Also, the upside is at 20.25, a key resistance: a daily close above would favor further gains.
Daily chart
Technical levels
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