- Mexican peso advances against the dollar, but is still limited by 20.00.
- USD / MXN had the lowest monthly closing since February in November.
USD / MXN is falling on Tuesday in a climate of optimism in stocks that is reflected in the new record highs in the main Wall Street indices. The pair’s price started the day near 20.20, fell to 20.04 recently, marking a new daily low.
The The USD / MXN price remains in the area of ​​the day’s lows with a clear bearish bias. The strength of the Mexican peso is associated with optimism in the stock markets. In any case, among the emerging countries it is not among the best performers on Tuesday.
From a technical point of view, the USD / MXN remains with the downtrend intact. Key support is the 20.00 area. Although it traded below, it has not yet been confirmed what keeps the falls limited for now. If confirmed, more losses would be expected, with an immediate target at 19.80 and the next at 19.55.
The The bearish outlook will remain intact as long as it remains below 21.30 / 35, which is where a downtrend line has been passing since March. The break of it would remove the downward pressure and point to a consolidation phase with an upward bias. For now, that scenario is not favored.
Technical levels
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