- The Mexican peso rises for the fifth day in a row this Monday against the US dollar.
- USD/MXN momentum favors the downside as it approaches the 20.00 zone.
- The 20.25 zone now becomes resistance.
The USD/MXN it continued its decline on Monday and fell to 20.04, reaching the lowest level since April 5th. Bearish signals increased after the pair fell below the 20-day SMA and when Momentum turned further lower below 100. Another negative sign for the pair is the drop below a trend line. short-term bearish.
If the drop continues, it is likely that the USD/MXN challenge the zone of 20.00. The May low at 19.99 is strong support and a break lower could clear the way to 19.90, the next support.
Any bounce below 20.25 should be seen as a corrective move. While a recovery above 20.30 would nullify the current negative bias. Above the critical resistance awaits the level 20.45. A daily close above would be a positive development for the dollar, exposing the 20.70 level.
USD/MXN daily chart
|Last Price Today||20.0484|
|Today’s Daily Change||-0.0544|
|Today’s Daily Change %||-0.27|
|Today’s Daily Opening||20.1028|
|20 Daily SMA||20.2395|
|50 Daily SMA||20.2775|
|100 Daily SMA||20.3943|
|200 Daily SMA||20.4447|
|Previous Daily High||20.2725|
|Previous Daily Minimum||20.0781|
|Previous Maximum Weekly||20,475|
|Previous Weekly Minimum||20.0781|
|Monthly Prior Maximum||20.6382|
|Previous Monthly Minimum||19.7269|
|Daily Fibonacci 38.2%||20.1524|
|Daily Fibonacci 61.8%||20.1982|
|Daily Pivot Point S1||20.0298|
|Daily Pivot Point S2||19.9567|
|Daily Pivot Point S3||19.8354|
|Daily Pivot Point R1||20.2242|
|Daily Pivot Point R2||20.3455|
|Daily Pivot Point R3||20.4186|
Source: Fx Street