USD/MXN remains weak near 19.30

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  • The Mexican peso maintains its favorable tone against the dollar despite the context.
  • Equity markets down on Monday, but not in favor of the dollar.
  • USD/MXN with a bearish bias pressing on support at 19.25/30.

The USD/MXN is trading without major changes at the start of the week and remains close to 19.30 and its lowest in months. A weak dollar prevents the recovery of the pair, which is not affected by the decline in the markets.

The Mexican peso remains firm against the dollar. Neither the drop in the stock markets nor in the raw materials is generating an upward correction. The USD/MXN it went as high as 19.36 in the Asian session but only to drop to 19.30 in the subsequent session.

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The USD/MXN continues to test the 19.25/30 area, and if firming below it would enable a larger pullback with possible target at 19.15, followed by 19.00/05. To the upside, at 19.40 is the first resistance to consider and then the key zone of 19.60 appears. A rise above, would draw strength from the Mexican peso.

The key data this week will be the US November employment report on Friday. The figures will serve to shape the medium-term expectations of the Federal Reserve and may have a broad impact on the market. In Mexico on Tuesday the unemployment data will be released.

technical levels

USD/MXN

Panorama
Last Price Today 19.3085
Today’s Daily Change -0.0231
Today’s Daily Change % -0.12
Today’s Daily Open 19.3316
Trends
20 Daily SMA 19,487
SMA of 50 Daily 19,817
SMA of 100 Daily 20.0224
SMA of 200 Daily 20.1085
levels
Previous Daily High 19.4209
Minimum Previous Daily 19.3054
Previous Weekly High 19.5924
Previous Weekly Minimum 19.3054
Maximum Prior Monthly 20,177
Minimum Prior Monthly 19,785
Daily Fibonacci 38.2% 19.3495
Daily Fibonacci 61.8% 19.3768
Daily Pivot Point S1 19.2843
Daily Pivot Point S2 19.2371
Daily Pivot Point S3 19.1688
Daily Pivot Point R1 19.3999
Daily Pivot Point R2 19.4682
Daily Pivot Point R3 19.5154

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Source: Fx Street

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