USD/MXN remains below 19.50, confirms modest weekly drop

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  • Mexican peso firm on Friday despite the general rise of the dollar.
  • USD/MXN could have the lowest weekly close since February 2020.
  • Below 19.50, the bias remains bearish.

USD/MXN is trading neutral ground on Friday around 19.37 and is on track for the lowest weekly close since February 2020. Hours ago the pair reached as high as 19.44, but then fell back, even despite a moderate but overall rise in the dollar. American.

Wall Street returns to activity after the holiday on Thursday. It will be a short day, characterized by a low volume of operations. Share prices do not register significant variations.

USD/MXN maintains a bearish bias

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The rises of the USD/MXN have failed to confirm above 19.50, staying far from the critical resistance of 19.60, whose break would strengthen the dollar. Thus, risks remain biased to the downside. The Mexican peso needs to firm below 19.30 to enable further declines, with an initial target at 19.15. Below the next strong barrier appears at 19.00/05.

Economy grows in Mexico, core inflation also

No economic data was released in the US. Next week the figures of the official employment report with non-agricultural payrolls and the unemployment rate will be released.

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In Mexico, on Friday it became known that the economy expanded 0.9% in the third quarter, below the previous estimate of 1%; and advanced 4.3% compared to the same period of the previous year.

Data published Thursday in Mexico of inflation November showed a drop in the annual rate to 8.14%, continuing with a downward trend, although the Core inflation climbed to 8.66%, the highest reading since 2000.

technical levels

USD/MXN

Panorama
Last Price Today 19.3868
Today’s Daily Change -0.0006
Today’s Daily Change % -0.00
Today’s Daily Open 19.3874
Trends
20 Daily SMA 19.5101
SMA of 50 Daily 19.8312
SMA of 100 Daily 20.0338
SMA of 200 Daily 20.1133
levels
Previous Daily High 19.3945
Minimum Previous Daily 19.3377
Previous Weekly High 19.5733
Previous Weekly Minimum 19.2497
Maximum Prior Monthly 20,177
Minimum Prior Monthly 19,785
Daily Fibonacci 38.2% 19.3728
Daily Fibonacci 61.8% 19.3594
Daily Pivot Point S1 19.3519
Daily Pivot Point S2 19.3164
Daily Pivot Point S3 19.2951
Daily Pivot Point R1 19.4086
Daily Pivot Point R2 19.4299
Daily Pivot Point R3 19.4654

Source: Fx Street

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