- Mexican peso with a trend against in the very short term, but still close to highs in months.
- USD / MXN continues to test 20.20 and asserts itself above the 20-day average.
El USD/MXN It is trading if it changes from Monday’s close very close to the 20.20 zone.. It had previously fallen to 20.13, but quickly rebounded erasing losses. The financial market in general is moving without a clear direction, in a lateral direction.
Emerging market currencies do not show significant changes on Tuesday, with expectations set on what the Federal Reserve on Wednesday, in addition to waiting for the Brexit negotiations and new fiscal stimulus in the US.
The start of vaccination in the US and the UK has generated some optimism for the future. In the immediate present every day new announcements of restrictions are added in the northern hemisphere to face the increase in cases.
Technical overview
He USD / MXN continues with a dominant bearish trend in a broad perspective, but in the short term the dollar is the one who has the bias in favor. The price is based on the 20-day moving average, today at 20.02, which has become a relevant support. In turn, it is testing the 20.20 zone, which is a resistance to watch out for.
If it stands above 20.20, the dollar would be positioned positively to extend the rises. Just after breaking a downtrend line that is passing through 21.30, it could be estimated that a floor has been reached.
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