USD/MXN jumps toward 20.50 as the Mexican peso tumbles

Mexican peso extends losses across the board during the American session.
On Friday, USD/MXN gains more than 1.25%, heads for the second-highest weekly close since March.

Matías Salord FXStreet

After a brief pullback, USD/MXN resumed the upside and climbed to 20.44, the highest level in eight weeks, boosted by a decline of the Mexican peso across the board.

The risk-aversion environment across global market continues to weigh on emerging market and commodity currencies; among them, the Mexican peso suffered the most on Friday, driven by technical factors.

The USD/MXN broke above the 20.20/25 strong resistance area and jumped to 20.40. It rose further on American hours and it is holding near the daily high, with the bullish tone intact. The dollar is gaining 1.30% against the Mexican peso and it heads for the highest weekly close since June.

On Thursday, USD/MXN rose above the 200-day moving average and also closed above the 20.15 key area. More gains should find resistance around 20.55. On the weekly chart, the cross is about to test the 55-week moving average, that capped the upside during 2021.

USD/MXN daily chart

USD/MXN

Overview
Today last price	20.3981
Today Daily Change	0.2344
Today Daily Change %	1.16
Today daily open	20.1637

Trends
Daily SMA20	19.9762
Daily SMA50	20.0157
Daily SMA100	20.0011
Daily SMA200	20.1153

Levels
Previous Daily High	20.2089
Previous Daily Low	20.024
Previous Weekly High	20.1682
Previous Weekly Low	19.839
Previous Monthly High	20.2515
Previous Monthly Low	19.7458
Daily Fibonacci 38.2%	20.1383
Daily Fibonacci 61.8%	20.0946
Daily Pivot Point S1	20.0555
Daily Pivot Point S2	19.9473
Daily Pivot Point S3	19.8706
Daily Pivot Point R1	20.2404
Daily Pivot Point R2	20.3171
Daily Pivot Point R3	20.4253

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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