- USD/MXN with bearish bias as long as it is below 19.95.
- Consolidating below 19.80 opens the door for more losses.
- Immediate resistance at 19.95; critical barrier at 20.15/20.
USD/MXN is falling on Tuesday due to the weakness of the US dollar in general. The pair has consolidated below 19.95, leaving the door open for more losses. So far, it has bottomed out at 19.86, the lowest level in a month.
Critical support is found at 19.80. Some rebound from this level could be seen, but in case of a daily close below, the bearish bias would be reinforced, exposing the key level of 19.50 (intermediate support at 19.70).
The 19.95 has become the immediate resistance is the previous support at 19.95. A recovery above would relieve bearish pressure and point to a consolidation between 20.15 and 19.95.
To the upside, the zone is 20.15/20.20. A break to the upside would suggest further gains ahead, targeting 20.45 with intermediate resistance at 20.30.
USD/MXN daily chart
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Source: Fx Street
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