USD/MXN firm above 23.00, at the highest level in a month


  • Mexican peso remains under pressure versus the US dollar despite higher equity prices in Wall Street.
  • USD/MXN heads for highest daily close since May 25.

The USD/MXN is rising for the second day in a row, holding firm above 23.00. The pair reached at 23.19, the highest level in a month.  Over the last hours it has been hovering around 23.10, consolidating modest daily gains.

The greenback posted mixed results across the board. Not even emerging market currencies showed a clear direction on Monday, unable to benefit from a rebound in equity prices. Still risk aversion is expected to play a key role in USD/MXN.

USD/MXN bullish outlook

The upsides bias in USD/MXN remains intact. It is testing the 55-day moving average and a horizontal resistance around 23.15/20. Above, the next level target might be seen at 23.50/55.

The bullish outlook in USD/MXN would be negated with a decline under 22.30, the 20-day moving average, a horizontal support and also the area of an uptrend line. A slide under 22.30 could suggest an interim top has been established. Before the mentioned level, support might be seen at 22.90 and 22.60.

 

USD/MXN

Overview
Today last price 23.123
Today Daily Change 0.0647
Today Daily Change % 0.28
Today daily open 23.0583
 
Trends
Daily SMA20 22.255
Daily SMA50 23.1497
Daily SMA100 22.4395
Daily SMA200 20.7901
 
Levels
Previous Daily High 23.0771
Previous Daily Low 22.647
Previous Weekly High 23.0771
Previous Weekly Low 22.2853
Previous Monthly High 24.8895
Previous Monthly Low 22.0047
Daily Fibonacci 38.2% 22.9128
Daily Fibonacci 61.8% 22.8113
Daily Pivot Point S1 22.7778
Daily Pivot Point S2 22.4974
Daily Pivot Point S3 22.3478
Daily Pivot Point R1 23.2079
Daily Pivot Point R2 23.3575
Daily Pivot Point R3 23.638

 

 

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