- The Mexican peso remains strong against the US dollar, clinging to recent gains.
- USD / MXN continues to test the 20.30 / 35 support zone.
- Resistance emerges at 20.60, the horizontal level and the 20 SMA.
The USD/MXN still unable to regain ground. The recent rises were followed by a pullback to the 20.35 area. A stronger Mexican peso continues to push the price towards the 20.30 / 35 support. A break to the downside would clear the way for further losses, targeting 20.15. Below attention would be directed towards 20.00.
On the upside, immediate resistance emerges at 20.50 and then a more significant barrier appears at 20.60. A daily close above would expose the next 20.85 level. A daily close above 20.90 would be a positive sign for the dollar.
Technical indicators are slightly skewed to the downside, but most of them are flat now. The 55-day simple moving average is turning higher, and the 200 SMA awaits flat at 20.28.
Daily USD / MXN chart
Technical levels
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