- USD / MXN remains close to key support, with limited recovery.
- Earthquake in Mexico does not influence the MXN.
USD / MXN is falling on Wednesday and remains close to recent lows. The price rose in hours of the Asian session to 19.98, the highest level in six days, but then it reversed direction and is trading at the low at 19.89.
The Mexican peso is among the best performing currencies on Wednesday. It was not affected by the 7.1 earthquake that shook the state of Guerrero. Emerging currencies show disparate behaviors.
The dollar continues with the tone of recovery against the main currencies, before a rise in the yields of Treasury bonds. The 10-year rate is near monthly highs at 1.36%, after hitting 1.38% on Tuesday.
From a technical point of view, the USD / MXN remains in consolidation mode between 19.85 and 20.00; with a bearish bias. The break at 19.85 would expose the 19.80 zone, where there is a strong barrier.
The bearish tone would be relieved with a firm return above 20.00. The 20.10 area is one of relevant resistances since key moving averages are passing there. A close above that level would point to more gains.
Technical levels
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