- Mexican peso maintains a positive trend against the dollar.
- USD / MXN signs below 20.00, although with limited retracement.
The USD / MXN is falling slightly on Tuesday and remains below 20.00 and in the zone of lows since March. The price encountered resistance at the 19.90 area and then a trend reversal. It is trading at the day’s lows at 19.79, approaching last week’s bottom.
The The dollar presents mixed results in general and at the same time against emerging currencies. Volatility generally remains limited in financial markets. Wall Street futures point to an open with modest falls in the major indices. Despite that, the weight remains firm.
The Mexican peso it did not receive badly the changes of officials of the Secretary of Finance in Mexico, nor the announcements of nominations for the Bank of Mexico.
From a technical point of view, the bearish bias remains strong in USD / MXN. The consolidation below 20.00, continues to leave the moment in favor of the Mexican peso. The support at 19.75 / 70 is the barrier that currently prevents further falls. The next target is at 19.50 / 55. In the opposite direction, resistance looms at 19.90, 20.00 and 20.20. The bearish bias will remain intact as it remains below 21.30, where an eight-month downtrend line is passing.
Technical levels
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