- USD / MXN falls below 20.00, falls to the lowest in two months.
- The outlook is for more gains for the MXN, targeting 19.70 / 75.
USD / MXN is falling sharply on Thursday. The decline accelerated after breaking below 20.00. So far it has bottomed at 19.89, the lowest level since mid-February. The pair is testing support at 19.90, and a firm break to the downside would see the lowest exit since late January.
The outlook continues to favor further losses, with the next target seen at 19.70 / 75. A recovery above 20.00 would ease the downward pressure. Above, the next resistance is at 20.30.
Technical indicators show that there is still room for further losses. The RSI is not at extreme levels yet, and neither is Momentum. Below 19.70, the yearly low at 19.55 would be exposed.
Daily chart
Technical levels
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