USD/MXN Technical Analysis: Main trend still bearish but remains in a consolidation range at 19.00/19.20.
|- The pair continues to consolidate in a wide range between 19.20 and 19.00. The main trends still point to the downside.
- A break under 19.00 would clear the way to more losses. The critical support is the 18.85/87 area, January low. Under that level, the pair will likely resume the downtrend with a target at 18.70.
- If USD/MXN holds above 19.00 over the next sessions, another test of 19.20 seems likely. A firm break above would point to an extension of the bullish correction of the US dollar. Strong resistance levels are seen at 19.30 and 19.45.
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