- The Mexican peso rises against the dollar, it remains in the recent range.
- Emerging currencies with uneven behavior in a limited week.
- USD / MXN maintains a bearish bias, looking towards the 100-day average.
USD / MXN approached the 20.70 zone but reversed direction and fell to 20.55, marking the lowest level since mid-November. The cross is operating at 20.58, in negative territory for the second day, maintaining a bearish bias, although with the majority of lateral movements in the last sessions.
The Mexican peso is among the best performing currencies on Wednesday. The dollar presents mixed results. The possible weakness of the US currency as a result of the appetite for risk reflected in the global rise in the price of shares, is being offset by the advance in the yields of Treasury bonds.
The 10-year rate of the US bond exceeded 1.50% while that the 30-year-old jumped to 1.95%, the highest in a month. Despite this the DXY, could not affirm in positive territory and falls 0.12%, still holding above 96.00.
Technically the USD / MXN maintains a bearish bias. At the moment with 20.55 limiting the lows, although you can see the strong support between 20.45 and 20.50, where the 100-day moving average is also passing. A close below would point to lower around 20.30. In the opposite direction, a firm comeback above 20.70 would take strength from the Mexican peso. The next resistance is at 20.90.
Technical levels
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