- The Mexican peso maintains its firm tone against the dollar.
- USD / MXN continues bearish bias, paused on Wednesday.
The USD / MXN fell to 20.13, the lowest level since February 17. It bounced on Wednesday but was unable to break above the 20.25 zone and is trading at 20.19, with the bearish bias intact. On Wednesday the minutes of the last Federal Reserve meeting will be published, which could generate noise in the market.
The dollar on Wednesday presents mixed results. On the one hand, it is trying to regain strength after days of setbacks, but it is not able to do so in a solid form on all fronts. Treasury yields continue in the correction mode and stocks remain strong, causing the greenback to remain weak.
The The expectation of a stronger economic recovery continues to be a key factor behind the rise in the stock markets and the Mexican peso. In turn, the currency is favored by the US stimulus measures, which would have Mexico among the countries that benefited the most.
In the short term, technically the downward bias of the USD / MXN remains strong and the price points to the support of 20.00 / 05, which if it gives way, could be the next target of 19.90, before the stronger support of 19.70. In the event of a rebound above 20.30, the downward pressure would be relieved.
Technical levels
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