- USD / MXN hits a high of 20.91, the highest level since March.
- The Mexican peso recovers from some losses, amid a holiday in Mexico.
- The US dollar is mixed before the FOMC meeting.
The USD/MXN it is falling for the first time in more than a week on Tuesday after the pair encountered resistance at 20.90. A holiday in Mexico and some profit taking weighed on the pair that retreated to the 20.70 zone.
The bias in USD / MXN still points to the upside. To clear the way for more gains, the dollar needs to consolidate above 20.90. The next area to watch is 21.00 with the next resistance at 21.05 followed by 21.45.
The USD / MXN correction could extend to 20.60 65 without denying the current bullish bias. Below 20.45 is the next critical area, the horizontal support and the 20-day moving average. A drop below would ease the pressure, leaving the Mexican peso stronger.
Daily USD / MXN chart
Technical levels
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