- Mexican peso weakens after the beginning of the American session.
- USD / MXN continues in consolidation mode, without moving away from 20.00.
He USD / MXN rebounded strongly and accelerated to the upside in the last hour returning above 20.00. In any case, the price continues in consolidation mode, in an area close to the minimum since March. The weakness of the dollar is the factor that continues to put the cross on the defensive.
Surprisingly the USD / MXN rose from 19.80 to 20.03, marking a high for the day. The rebound from the lowest level since December 18 occurred in a context of the rebound of the dollar, which cut losses, but erratic movements prevailed due to low volume. Several currency pairs register breaks in technical levels, which are followed by reversals.
He Low volume in the markets is expected to continue until next Monday when normality returns. Markets are optimistic on Wednesday following the approval of the AstraZeneca / Oxford vaccine by UK regulators. This overshadowed the negative impact on Tuesday of the blockade in the US Senate of increasing aid to families.
He Context at the end of the year shows the main Wall Street indices at record highs, reflecting the demand for riskier assets. This should be maintained to have an expectation that the USD / MXN breaks the zone of the December floor of 19.70, which would encourage a bearish extension with a possible target of 19.50.
Technical levels
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