- 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
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.
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.
|Last Price Today||19.3868|
|Today’s Daily Change||-0.0006|
|Today’s Daily Change %||-0.00|
|Today’s Daily Open||19.3874|
|20 Daily SMA||19.5101|
|SMA of 50 Daily||19.8312|
|SMA of 100 Daily||20.0338|
|SMA of 200 Daily||20.1133|
|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