- USD / MXN consolidates in lows since March.
- Mexico: inflation falls back in November, air for Banxico.
The USD / MXN is trading without significant changes on Wednesday and remains in the zone of lows since March. The price fell to test the 19.70 floor and then bounced slightly to 19.78. It is trading at 19.75, with the bearish tone intact.
The dollar is shown without a clear direction in the market, in the preview of important events such as the definition of Brexit, the decision of the European Central Bank, the European summit and the resumption of talks for more fiscal stimulus in the US.
Regarding the Mexican peso, it is showing moderate tours. It was learned that inflation in Mexico in November showed figures below expectations and a slowdown, which is a positive factor for Banco de México. The consumer price index rose 0.08% in November, and the annual rate went from 4.09% to 3.33%.
Technical overview
The break at 19.70 would point to further declines in USD / MXN. The next relevant support can be located around 19.55 / 60 and below at 19.30. In the opposite direction, resistances are seen at 19.85, 19.95 and then 20.20. The downtrend is expected to remain intact as long as the cross remains below 21.30, where it is passing an eight-month downtrend line.
Levels to consider
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