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USD/MXN falls back after trading at month-day highs above 20.50

  • Emerging market currencies pull back on cautious weather.
  • USD/MXN with a bullish bias as long as it remains above 20.40.

USD/MXN climbed hours back to 20.52, reaching the highest level in almost a week. It then pulled back and is trading at the 20.45 area. The rises occur before a strengthening of the dollar in the market.

The greenback is rising on a fall in equity markets. The weak economic outlook weighs again, to which tensions between Chica and the United States are added.

The Mexican peso is far from being the worst performer in the group of emerging, but it does not manage to escape from the picture of general situation. After the setback of the last two weeks, the USD/MXN signals a possible floor.

Technically, in the very short term, a bullish bias is seen, which will keep open the possibilities of more rises, if it continues above 20.40. A drop below will again expose strong support at 20.20, which if broken would leave the Mexican peso poised for further declines.

If confirmed above 20.50, the USD/MXN would be expected to extend the rises, with the next resistance levels at 20.60 and 20.70.

Technical levels


Last Price Today 20.5022
Today’s Daily Change 0.1113
Today’s Daily Change % 0.55
Today’s Daily Opening 20.3909
20 Daily SMA 20.5455
50 Daily SMA 20.1916
100 Daily SMA 20,167
200 Daily SMA 20.4353
Previous Daily High 20,427
Previous Daily Minimum 20.2392
Previous Maximum Weekly 20.5876
Previous Weekly Minimum 20.2052
Monthly Prior Maximum 21.0539
Previous Monthly Minimum 20.0921
Daily Fibonacci 38.2% 20.3553
Daily Fibonacci 61.8% 20,311
Daily Pivot Point S1 20.2778
Daily Pivot Point S2 20.1646
Daily Pivot Point S3 20.09
Daily Pivot Point R1 20.4655
Daily Pivot Point R2 20.5401
Daily Pivot Point R3 20.6533

Source: Fx Street

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