He USD/MXN has risen 17 cents in the first part of Wednesday, rising in the European morning to a daily high already tested yesterday in 18.67. The pair has not been able to overcome this area and has fallen several pips, although it now remains bullish on the day, trading above 18.64, up 0.69% daily.
The dollar beats its main rivals the day after US inflation data fell less than expected. He DXY has advanced to 103.63 today, two-day highand maintains its bullish tone amid a general context of risk aversion.
In the next few hours, US retail sales and industrial production data may lead to further moves in the USD/MXN. Retail sales are expected to grow 1.8% per month in January, recovering from the 1.1% decline seen in December.
USD/MXN Levels
The first resistance is now erected at the high of February 14 and 15 in 18.67. Above awaits the psychological level of the 7:00 p.m.and above awaits the important barrier 19.29five and a half week high reached on February 6.
To the downside, a clear break of 18.49/18.50 (strong support zone where the minimum for today and the last four and a half years is), could cause a collapse to the zone 17.93/99, where are the 2018 minimums recorded in April of that year. below awaits 17.44floor of July 2017.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
