USD/MXN continues sideways between 19.90 and 19.70

  • The Mexican peso remains unchanged against the dollar.
  • USD/MXN limited below 19.90, with support around 19.70.

The USD/MXN is trading at 19.73, with no relevant changes for the day and looking towards the 19.70 area, which if it yields could strengthen the Mexican peso. The pair continues to move sideways, accompanying a rise in the stock markets and in raw materials.

Raises are still limited by 19.90. If there is a consolidation above, the dollar would be positioned for a return above 20.00. The next strong resistance is at 20.15/20.

downwards, USD/MXN immediate support is 19.70, which contained the dips. It traded below momentarily on Tuesday, but quickly came back above. If this level is lost, the next support is seen at 19.50.

Emerging market currencies move on Wednesday in no clear direction. They are being supported by the rise in the equity markets and raw materials. Also contributing is the pullback in sovereign bond yields after Tuesday’s jump following the Bank of Japan’s announcement.

In Mexico an increase of 0.7% in retail sales was known on Tuesday in October, while a drop of 0.2% was expected; the rise compared to last year was 3.8%. On Thursday, the inflation data for the middle of the month of December will be published.

technical levels

USD/MXN

Overview
Today’s last price 19,728
Today Daily Change -0.0406
Today Daily Change % -0.21
Today daily open 19.7686
trends
Daily SMA20 19.5578
Daily SMA50 19,647
Daily SMA100 19.8579
Daily SMA200 20.0122
levels
Previous Daily High 19.9003
Previous Daily Low 19,678
Previous Weekly High 19.9181
Previous Weekly Low 19.5169
Previous Monthly High 19.8281
Previous Monthly Low 19.0402
Daily Fibonacci 38.2% 19.7629
Daily Fibonacci 61.8% 19.8154
Daily Pivot Point S1 19.6643
Daily Pivot Point S2 19.56
Daily Pivot Point S3 19,442
Daily Pivot Point R1 19.8866
Daily Pivot Point R2 20.0046
Daily Pivot Point R3 20.1089

Source: Fx Street

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