- The Mexican peso falls after hitting multi-month highs against the dollar.
- USD / MXN bearish bias will persist below 20.70 / 75
He USD/MXN It hit a fresh 10-month low at 19.55 on Wednesday, and is rising on Thursday, trading above 19.70 again, easing downward pressure.
The main trend continues to favor the decline in USD / MXN, and the next target and strong support stands at 19.45 / 50. A break to the downside would clear the way at 7.30pm.
On the positive side, Immediate resistance is seen at 19.92 followed by the 20.20 zone. A firm break above 20.20 would suggest more gains for the dollar.
The negative outlook will hold as long as the price remains below the eight-month downtrend line and the 100-day moving average, both in the 20.70 / 75 area.
USD / MXN Daily Chart
Technical Levels
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