- Mexican peso continues to advance and retests 20.00.
- USD / MXN on track to have the lowest weekly close since March.
The USD / MXN is falling on Friday for the second day in a row and it is doing so moderately. Losses are still contained above 20.00. The price continues to approach that key level again, but for now, it remains above.
The non-negative tone in the stock markets contributes to the support of emerging currencies. In addition, the dollar shows some weakness in the group of the main currencies. This keeps the USD / MXN unable to recover ground and affected by 20.00.
The The price recently fell to 20.08, the lowest level in ten days and then rebounded. It is at 20.11, on the way to having a new weekly drop and the lowest close since March in this season.
The traders are still looking at 20.00. The trend remains bearish and is the next key support, the break of which can trigger more lows, and at the same time, important rebounds. Below this level, supports can be found at 19.75 / 80 and 19.55. The downtrend will remain intact while the pair remains below 21.60, where it is passing a downtrend line.
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