USD/MXN 1-week low below 19.50 against stronger Mexican Peso

  • The dollar with mixed results, gains momentum before rising Treasury bond yields.
  • Mexico: Officialism triumphs in elections for governor held over the weekend.
  • USD/MXN tests levels below key support.

USD/MXN started the week testing levels below a key support zone of 19.50. The Mexican peso is among the best performing currencies.

keep pointing down

USD/MXN remains under pressure and is trading below 19.50. A close below could enable an extension to the downside with the next strong support around 19.30.

The intraday low was reached at 19.46 and the pair then trimmed losses. If it returns above 19.50, a continuation of the trading in the range between 19.50 and 19.70 could be expected.

The Mexican peso is favored by some better mood in the markets. The result of the elections in six states of Mexico did not play against. The ruling party triumphed in four of them, which were previously in the hands of the opposition. For this week, the key data in Mexico will be retail inflation on Thursday. A slight reduction in the annual rate is expected.

In the US, the economic calendar for Monday is shown free. The relevant data for the week will also be the inflation data to be published on Friday. There will be no speeches from Fed officials as they are in the quiet period ahead of next week’s FOMC meeting.

Technical levels

USD/MXN

Overview
Today last price 19.4979
Today Daily Change -0.0563
Today Daily Change % -0.29
Today daily open 19.5542
trends
Daily SMA20 19.9083
Daily SMA50 20.0159
Daily SMA100 20.2893
Daily SMA200 20.4196
levels
Previous Daily High 19.6116
Previous Daily Low 19.5006
Previous Weekly High 19.7729
Previous Weekly Low 19.4131
Previous Monthly High 20.5113
Previous Monthly Low 19.4131
Daily Fibonacci 38.2% 19.5692
Daily Fibonacci 61.8% 19,543
Daily Pivot Point S1 19.4993
Daily Pivot Point S2 19.4444
Daily Pivot Point S3 19.3883
Daily Pivot Point R1 19.6103
Daily Pivot Point R2 19.6664
Daily Pivot Point R3 19.7213

Source: Fx Street

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