- Dollar weakness favors USD / MXN decline.
- Cruce is on track to have the second consecutive weekly decline.
The USD / MXN after operating at 20.30, changed trend and accelerated the movement in the last hours, falling to 20.17, a level located in the area of the minimum weeks. The bearish tone is maintained, which favors the pressure on the weekly floor
The weakness of the dollar, together with the stability in the equity markets, continue to favor the decline in the USD / MXN. The downward path resumed on Friday, following Thursday’s correction.
The USD / MXN is about to close the second consecutive weekly decline, and it is, for the moment, back below the weekly average of 55, which is a reference level (20.20). This could anticipate further declines.
If the downward bias persists, the next support is around 20.00 / 05. A weekly close below 19.70 is necessary to enable further lows in the medium term
Get up, a firm return above 20.30 would ease the current bearish pressure. While a weekly close above 20.80 would pave the way for more gains.
Technical levels
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