USD/MXN hits three-week highs above 19.90 on risk aversion

Get real time updates directly on you device, subscribe now.

  • The dollar rises across the board on risk aversion.
  • US yields advance strongly after inflation data.
  • USD/MXN is headed for the biggest weekly gain since March.

The USD/MXN is having the best day in weeks, fueled by a rally in the US dollar across the board. The pair went from below 19.70 to 19.96, reaching the highest level since May 19.

Following the US inflation data, Wall Street resumed its decline and US bond yields continued to rise. The University of Michigan consumer confidence report contributed to risk aversion. The Dow Jones falls more than 2%, and the Nasdaq plunges 3.40%.

bullish outlook

USD/MXN broke above the 20-day simple moving average again. The daily chart shows bullish signs with the RSI moving higher, away from overbought levels, and Momentum above the 100 level.

If the pair sustains above the 19.90 resistance area, a test of the 20.00 level seems likely. The bullish tone will hold as long as it is above 19.70. Below the mentioned level, the Mexican peso will regain strength, exposing the 19.50 zone.

Technical levels

USD/MXN

Panorama
Last Price Today 19,962
Today’s Daily Change 0.2891
Today’s Daily Change % 1.47
Today’s Daily Opening 19.6729
Trends
20 Daily SMA 19,762
50 Daily SMA 19.9878
100 Daily SMA 20.2564
200 Daily SMA 20.4109
levels
Previous Daily High 19.6938
Previous Daily Minimum 19.5319
Previous Maximum Weekly 19.7729
Previous Weekly Minimum 19.4131
Monthly Prior Maximum 20.5113
Previous Monthly Minimum 19.4131
Daily Fibonacci 38.2% 19,632
Daily Fibonacci 61.8% 19.5938
Daily Pivot Point S1 19.5719
Daily Pivot Point S2 19.4709
Daily Pivot Point S3 19.41
Daily Pivot Point R1 19.7339
Daily Pivot Point R2 19.7948
Daily Pivot Point R3 19.8958

Advertisement

Source: Fx Street

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

www xxx xxx video tube freeproncom filmsex hindi xxxvdo xxx hd
buy kamagra buy kamagra online $255 payday loans online same day no denial payday loans direct lenders only