USD/MXN bounces after hitting 1-month lows below 19.10

- Article Top Advertisement -
  • Mexico: inflation ends 2022 at 7.82%.
  • Presidents of Mexico and the US meet in Mexico City.
  • USD/MXN biased negative, looking ever closer to 19.00.

USD/MXN is modestly higher on Monday, after dipping to its lowest level since early December at 19.09. It is trading around 19.15, prior to the American session.

The main support for the rally of the Mexican peso it has to do with the weakness of the dollar throughout the market, added to the appetite for risk on Monday, after data from the US on Friday and the reopening of China. Wall Street futures point to a positive open after Friday’s rally. Commodities are advancing, giving more support to emerging market currencies.

Inflation falls slightly in December

- Article Inline Advertisement 1-

On Monday it was learned that inflation in Mexico ended 2022 with a rise of 7.82%. The data implied a rebound from the 7.80% of the previous month. The monthly rise was 0.44%. The underlying consumer price index had a rise of 0.65% in December, and the annual rate was 8.35%, this implied a drop from 8.51% in November. It is the first drop in the annual rate in two years.

In the US, the data calendar will be light these days with the key event on Thursday being the publication of the consumer price index for December.

- Advertisement -

The president of United States, Joe Biden will meet with the Mexican president, Andres Manuel Lopez Obrador. They will also meet with the Prime Minister of Canada, Justin Trudeau.

The look at 19.00/05

The USD/MXN maintains a clearly bearish bias. Now 19.30 has become the first support of consideration. A return above could ease the negative pressures. Beyond, the critical level is at 19.55.

In the opposite direction, the pair is pressing the 19.10 area, looking in turn at the 19.00/05 barrier, which is expected to offer a brake on the pair’s depreciation. In the event of a break, the next target is at 18.85.

technical levels


Last Price Today 19.1514
Today’s Daily Change 0.0159
Today’s Daily Change % 0.08
Today’s Daily Open 19.1355
20 Daily SMA 19.5341
SMA of 50 Daily 19.5069
SMA of 100 Daily 19.7677
SMA of 200 Daily 19.9637
Previous Daily High 19.3489
Minimum Previous Daily 19.1202
Previous Weekly High 19.5361
Previous Weekly Minimum 19.1202
Maximum Prior Monthly 19.9181
Minimum Prior Monthly 19.1084
Daily Fibonacci 38.2% 19.2076
Daily Fibonacci 61.8% 19.2616
Daily Pivot Point S1 19.0542
Daily Pivot Point S2 18.9729
Daily Pivot Point S3 18.8255
Daily Pivot Point R1 19.2829
Daily Pivot Point R2 19.4303
Daily Pivot Point R3 19.5116

Source: Fx Street

- Article Bottom Advertisement -


Please enter your comment!
Please enter your name here

Hot Topics

Related Articles