- Mexican peso maintains a favorable trend but loses momentum.
- USD / MXN unchanged on Friday and during the week.
The USD / MXN is trading in the 20.00 zone, with no significant changes compared to yesterday’s close. On Thursday the cross rebounded strongly having one of the steepest rises in the month, rising from levels close to lows from March below 19.60 to 20.08.
He key factor in travel is still the dollar. On Thursday it gained momentum and recovered on all fronts, including against emerging markets despite the advance of equity markets. The optimistic tone in the bags did not have an impact on the Mexican peso.
On Friday the dollar lost momentum after the employment data. Non-farm payrolls fell 140,000, with an increase of 71,000 expected. It was the first drop in jobs since April. The data initially generated a drop in the dollar but then the greenback recovered.
In the last hour the dollar took pace. The continuity in the collapse of the price of gold stands out above all. While the main Wall Street indices do not show significant variations.
From a technical point of view, the dominant trend in the USD / MXN continues to be down, although the rebound of the dollar has taken momentum from the Mexican peso. A comeback below 19.70 would set its sights back on 19.50. While on the upside, the next significant resistance is at 20.20 followed by 20.80 / 85, an area where an eight-month bearish line is also passing, which if broken would change the outlook to neutral.
Technical levels
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