- Mexican peso clings to recent gains against the dollar.
- Calm in financial markets at the end of the week.
The USD / MXN continues to operate in ranges around the 20.00 zone, in consolidation mode, validating the fall of the previous days and with the Mexican peso without being able to definitively break below the psychological level.
The price of the cross fell to 19.96 hours ago and then rebounded to 20.07, the highest level in two days. It remains with a firm downtrend, pressing on the 20.00 area, but with the consolidation tone dominating.
The context favors the continuity of the trades in small ranges since it is a holiday in the US and a low volume of operations was expected until the end of the week. With no mainstream news, Wall Street equity futures are moving slightly higher, supporting risk appetite, which supports commodity currencies.
LEmerging currencies do not register significant changes on Friday and are clinging to recent gains, Driven by optimism in markets following advances on the coronavirus vaccine and the US presidential transition.
From a technical point of view, USD / MXN remains bearish. Confirmation below 20.00 would point to lower targets at 19.75 and then 19.55. The negative outlook is expected to hold as long as it remains below 21.50, where a downtrend line is passing.
Technical levels
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