USD/MXN ends week modestly higher, ZAR outperforms among EM

Mexican peso rises on Friday versus US dollar amid risk appetite.
South African rand ends the week as the best emerging market performer.

Matías Salord FXStreet

The USD/MXN climbed earlier on Friday to 22.83, and then turned to the downside, on the back of a weaker US dollar and amid risk appetite. It bottomed at 22.47, the lowest since Tuesday.

Despite Friday’s rally, the Mexican peso is still down for the week but far from the lows. The USD/MXN continues to trade between 22.20 and 22.90, without a clear direction.

The consolidation mode in USD/MXN remains in place for now. If Wall Street can run higher, then there is scope for a slide under 22.00 but if risk aversion emerges, a test of 22.90 could leave the cross vulnerable for a test of the next resistance at 23.20.

EM: ZAR is the best performer

Among emerging market currencies, the South African rand (ZAR) is the best performer over the week. The USD/ZAR is about to post the third weekly decline in a row, after falling below 17.00.

On the flip side, the Indian rupee and the Russian ruble were the biggest losers. USD/INR peaked on Friday at 75.34 before pulling back to 75.18. USD/RUB hit on Tuesday at 72.29, the strongest level since mid-May and then started to retreat; it is about to end the week hovering slightly below 71.00.

USD/MXN levels

USD/MXN

Overview
Today last price	22.5346
Today Daily Change	-0.1087
Today Daily Change %	-0.48
Today daily open	22.6433

Trends
Daily SMA20	22.6049
Daily SMA50	22.8393
Daily SMA100	22.8039
Daily SMA200	20.9263

Levels
Previous Daily High	22.7682
Previous Daily Low	22.5436
Previous Weekly High	23.2298
Previous Weekly Low	22.3794
Previous Monthly High	23.2298
Previous Monthly Low	21.4609
Daily Fibonacci 38.2%	22.6294
Daily Fibonacci 61.8%	22.6824
Daily Pivot Point S1	22.5352
Daily Pivot Point S2	22.4271
Daily Pivot Point S3	22.3105
Daily Pivot Point R1	22.7598
Daily Pivot Point R2	22.8764
Daily Pivot Point R3	22.9845

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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