- Dollar with mixed results on Wednesday ahead of Fed minutes.
- No clear direction between currencies and commodities so far this day.
- USD / MXN unchanged on Wednesday, slightly bullish signals.
USD / MXN reached 20.02 on Tuesday but could not hold above 20.00 and fell back. On Wednesday the lows continued to the 19.95 area and then rebounded approaching 20.00. The cross is moving below 20.00 with no clear direction.
Most of the crossovers in the currency market do not present a clear direction so far this day. The key event of the day will be later with the publication of the minutes of the Federal Reserve, that could have an impact on Treasury yields.
Equity and bond markets are also not on a firm guideline, contributing to sideways rallies in currency crosses. Emerging market currencies show mixed results and limited variability.
Slightly bullish
The USD / MXN main technical indicators show unclear signals, although bulls seem to dominate in the short term. However, the cross faces resistance at 20.00. Above it, more strength appears around 10.20, an area that is reinforced by the 200-day moving average.
In case of losing 19.95, the Mexican peso would change the short-term bias. To return to the range 19.95-19.80. Just a confirmed break of the 19.80 support would point to a bearish extension.
Technical levels
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