- The dollar loses ground before Christmas on a limited day.
- Optimism over Brexit deal favors further declines in USD / MXN.
The USD / MXN is trading at 19.86, at the lowest level since last Friday and again points to the lows of this month and the 19.70 zone. The negative tone intensified due to the rise in the stock markets and optimism for the Brexit agreement.
Emerging currencies are posting gains against the dollar. The Mexican peso stands out in this group and is one of the most advanced. The day is being low volume, since the European markets have closed before and Wall Street will also have a limited day. There will be no operations on Friday.
This drop in volume can lead to erratic tours. At the moment it is favoring the fall of the USD / MXN. The next strong support is at 19.70, close to the December floor.. The break of the same would point to lower, with a target at 19.50. Upward. Just returning and holding above 20.20 the dollar would remove upward pressures. The next strong resistance is at 20.80.
In regards to the week, USD / MXN is on track to end with slight losses and with an important signal in favor of the Mexican peso. The cross came to trade at one point at 20.65, but reversed the trend. This leaves the Mexican peso better positioned for the next sessions.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
