USD/MXN jumps from lows in years towards 19.00

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  • Strong correction of the Mexican peso due to a drop in the markets.
  • Emerging market currencies erase some of the recent gains.
  • USD/MXN jumps to 18.99, highest in a week.

USD/MXN is rising for the second day in a row, extending the strong rebound that began Wednesday from February 2020 lows near 18.55. In hours of the European session, the pair reached 18.99, the maximum in a week.

The price of the pair remains close to 19.00, with a bullish intraday tone. The main support of this advance is in the concerns in the markets. Wall Street’s main indexes lost around 1.5% on Wednesday and futures on Thursday point to a lower open of 0.5%.

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Concerns about a possible global recession rose after US economic data on Wednesday, which included a larger-than-expected decline in retail sales and industrial production in December. The weekly jobless claims report and the Philadelphia Fed index will be released on Thursday. In Mexico, retail sales data for November will be released on Friday.

If the bad weather on the stock markets persists, emerging market currencies, including the Mexican peso, are expected to continue under pressure. The upward barrier of the USD/MXN is at 19.00/05, followed by 19.11 and the 20-day average at 19.17. In the opposite direction, first support is seen at 18.89 and then a firmer one at 18.70.

technical levels


Last Price Today 18.9749
Today’s Daily Change 0.0815
Today’s Daily Change % 0.43
Today’s Daily Open 18.8934
20 Daily SMA 19.2002
SMA of 50 Daily 19.3902
SMA of 100 Daily 19.6763
SMA of 200 Daily 19.9209
Previous Daily High 18.8994
Minimum Previous Daily 18.5663
Previous Weekly High 19.1951
Previous Weekly Minimum 18.7331
Maximum Prior Monthly 19.9181
Minimum Prior Monthly 19.1084
Daily Fibonacci 38.2% 18.7722
Daily Fibonacci 61.8% 18.6935
Daily Pivot Point S1 18.6733
Daily Pivot Point S2 18.4532
Daily Pivot Point S3 18.3402
Daily Pivot Point R1 19.0065
Daily Pivot Point R2 19.1195
Daily Pivot Point R3 19.3396

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Source: Fx Street

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