- Mexican peso falls against the dollar, but less than other emerging market currencies.
- USD/MXN with limited upside as long as it remains below 20.25.
USD/MXN is rising modestly on Wednesday and continues to pressure the second half of August highs near 20.25. The cautious climate in financial markets is being a negative factor for emerging currencies, including the Mexican peso.
The dollar on Wednesday presents mixed results, but against those of emerging markets it shows mostly rises. The Mexican peso is far from the worst.
on wall streetthe main indices rise around 0.30%, holding close to recent lows. Commodities have trimmed losses in the last hour but remain under pressure. The Petroleum falls more than 2%.
In the US, the ADP employment report was released on Wednesday, showing an increase in jobs of 132,000, below the 288,000 expected. On Thursday the manufacturing ISM will come out and on Friday the official employment report for August, with the payrolls being agricultural.
Banxico will provide the quarterly report for the second quarter on Wednesday. The next meeting of Bank of Mexico It is September 29, and the doors are open for another rise of 75 basis points, which would go to 9.25%.
USD/MXN had fallen to 20.08, but then rebounded and climbed to 20.23, the highest in a week. The pair then lost steam and is trading around 20.15, slightly bullish. The break of 20.25 could enable more rallying in the short term. The next resistance is at 20.45.
Technical levels
USD/MXN
Overview | |
---|---|
Today last price | 20.1718 |
Today Daily Change | 0.0186 |
Today Daily Change % | 0.09 |
Today daily open | 20.1532 |
trends | |
---|---|
Daily SMA20 | 20.0836 |
Daily SMA50 | 20.2826 |
Daily SMA100 | 20.1619 |
Daily SMA200 | 20.3834 |
levels | |
---|---|
Previous Daily High | 20.2081 |
Previous Daily Low | 19.9114 |
Previous Weekly High | 20.2483 |
Previous Weekly Low | 19.8495 |
Previous Monthly High | 21.0539 |
Previous Monthly Low | 20.0921 |
Daily Fibonacci 38.2% | 20.0947 |
Daily Fibonacci 61.8% | 20.0247 |
Daily Pivot Point S1 | 19.9737 |
Daily Pivot Point S2 | 19.7942 |
Daily Pivot Point S3 | 19.6771 |
Daily Pivot Point R1 | 20.2704 |
Daily Pivot Point R2 | 20.3876 |
Daily Pivot Point R3 | 20.5671 |
Source: Fx Street
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