USD/MXN breaks below 19.50 to lowest in a month


  • Mexican peso and emerging market currencies gains versus US Dollar on risk appetite, ECB easing. 
  • USD/MXN heads for lowest close in a month, below key level. 

The USD/MXN pair is consolidating losses during the American session, as it stands slightly above 19.40. Earlier it bottomed at 19.39, the lowest in almost a months. 

Risk appetite on optimism about an improvement in the negotiations between China and the US; and later, the easing package from the European Central Bank, boosted the demand for Emerging Market currencies, among them, the Mexican Peso. 

More downside ahead? 

From the August 29 high, USD/MXN lost now 4% in an impressive rally of the Mexican peso. Technical indicators show extreme readings but no signals of a recovery yet. 

A close below 19.45 would point to further losses and to a potential test of the 19.30/35 support level. If USD/MXN drops to 19.30 a rebound later seems likely, but if it breaks lower, the next target is seen at 19.20. 

A recover back above 19.50 would ease the bearish pressure. Above the next resistance is seen at 19.60. A consolidation above 19.60 would signal the end of the Mexican peso rally. 

USD/MXN

Overview
Today last price 19.4302
Today Daily Change -0.0775
Today Daily Change % -0.40
Today daily open 19.5077
 
Trends
Daily SMA20 19.8125
Daily SMA50 19.4425
Daily SMA100 19.3024
Daily SMA200 19.3036
Levels
Previous Daily High 19.5737
Previous Daily Low 19.4734
Previous Weekly High 20.1651
Previous Weekly Low 19.5208
Previous Monthly High 20.2581
Previous Monthly Low 19.1148
Daily Fibonacci 38.2% 19.5354
Daily Fibonacci 61.8% 19.5117
Daily Pivot Point S1 19.4628
Daily Pivot Point S2 19.4179
Daily Pivot Point S3 19.3624
Daily Pivot Point R1 19.5631
Daily Pivot Point R2 19.6186
Daily Pivot Point R3 19.6635

 

 

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