- USD / MXN falls to new multi-month lows, trying to consolidate below 20.00.
- The Mexican peso is about to post its highest close since mid-March.
The USD/MXN It fell back below 20.00 and bottomed at 19.85, the lowest level since March. This time it’s holding down. A close below 20.00 would point to further weakness ahead of the dollar.
The USD / MXN downside target is seen at 19.75; While at 19.60 a strong support is seen followed by 19.30. A bounce above 20.00 would ease the negative pressure.
In a general view, the downtrend will hold as long as it is below 21.40. Interim resistance is seen at 20.70 / 80.
Daily chart
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
