- Dollar falls against emerging market currencies on Tuesday.
- USD / MXN maintains a negative trend, but continues in consolidation mode.
USD / MXN is falling on Tuesday, after Monday’s modest rise. The price fell to 19.93 and then rebounded slightly. It is moving sideways, without moving away from 20.00, in negative territory for the day.
The key factor is a decline in the dollar in the market, supported by a rise in stocks. LEmerging market currencies overall rise against the greenback on Tuesday, modestly. In the financial markets, the continued rise in the yields of US Treasury bonds to new highs since March stands out on Tuesday.
Technical overview
In an overview, la teUSD / MXN dominant trend remains bearish, although in the shorter term, it continues in consolidation mode near 20.00. The 19.70 break was not continued, nor were the bullish attempts above 20.20.
For now then, the consolidation mode prevails. Below 19.75 it is to be expected that the downward pressures will increase, while in the opposite direction, the bulls above 20.20. A close above 20.30 would point to an upward extension. In case of retaking the losses, the next strong support zone is located at 19.45 / 50.
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