USD/MXN back to the consolidation range, Mexican peso not ready to extend gains


  • Mexican peso fails to hold to gains despite the rally in stocks. 
  • USD/MXN back to the range after being rejected from under 19.10. 

The USD/MXN bounced back to 19.15 from the weekly lows, erasing daily losses. The Mexican peso weakened across the board during the American session despite risk appetite and rising crude oil prices

Stocks rallied globally while bond yields declined drastically driven by unexpectedly dovish comments from ECB officials supporting market’s expectations for easier monetary policies from both the ECB and the Fed and slight relief on US-China trade frictions,” wrote BBVA analysts. The improvement in sentiment boosted Latin American currencies. Among them was the Mexican peso but it changed its trend. 

The pair bottomed at 19.04, the lowest levels in almost three weeks and rebounded. As of writing trades at 19.15, marginally lower for the day and back into the range between 19.10 and 19.20 that has been in place since last Tuesday. 

The Mexican peso today pushed USD/MXN below the lower bottom, but it was rejected, and the pair rose back above. Last week and yesterday, it traded on top of 19.20 for a few moments, but it was unable to hold on top. 

The pair continues to move sideways around 19.15, consolidating the slide that followed the sharp decline on the back of Trump’s announcement of no tariffs to Mexican imports. 

USD/MXN

Overview
Today last price 19.162
Today Daily Change -0.0138
Today Daily Change % -0.07
Today daily open 19.1758
 
Trends
Daily SMA20 19.2755
Daily SMA50 19.0992
Daily SMA100 19.1471
Daily SMA200 19.361
Levels
Previous Daily High 19.2139
Previous Daily Low 19.1283
Previous Weekly High 19.3289
Previous Weekly Low 19.087
Previous Monthly High 19.8284
Previous Monthly Low 18.7907
Daily Fibonacci 38.2% 19.1812
Daily Fibonacci 61.8% 19.161
Daily Pivot Point S1 19.1314
Daily Pivot Point S2 19.087
Daily Pivot Point S3 19.0458
Daily Pivot Point R1 19.217
Daily Pivot Point R2 19.2583
Daily Pivot Point R3 19.3027

 

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD drops below 1.11 amid upbeat US data, trade concerns

EUR/USD is trading below 1.11 after robust US housing figures and solid consumer sentiment figures were published. Earlier, the common currency suffered from the concerns of new US tariffs on the EU.

EUR/USD News

GBP/USD down 100 pips after UK retail sales badly disappoint, amid USD strength

GBP/USD has plunged below 1.3050 after UK retail sales badly disappointed with a fall of 0.6% in December, on top of downward revisions. Odds of a BOE cut have risen.

GBP/USD News

Crypto market hyperspace mode On

The secondary actors of the crypto-sphere awaken and rally hard. Leading coins battle with greater resistance at the gates of a full bullish market. The only risk is an over-shoot, but that sentiment remains neutral.

Read more

Gold looks to close week flat below $1560

The XAU/USD pair climbed to a fresh daily high of $1560 in the early trading hours of the American session but struggled to preserve its momentum.

Gold News

USD/JPY: Losing bullish momentum but retaining gains

Chinese encouraging data kept markets in risk-on mode at the beginning of the day. The US January Michigan Consumer Sentiment Index is seen at 99.3, matching December figure. USD/JPY holding at the upper end of its weekly range could correct lower.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures