• Technical indicators are modestly biased to the upside in the short-term in USD/MXN.
  • Pair needs to break and hold above 20.55 to clear the way to more gains.

The USD/MXN is falling on Thursday after hitting on Wednesday a two week high at 20.52. The bullish bias in the near term is still intact, while at the same time the dominant trend still points south.

The pair is correcting to the upside from the main bearish trend, after finding support at 20.25/30. A decline below 20.35 should point to a new test of the critical area of 20.25/20.30 that includes the flat 200-day simple moving average.

On the upside, daily close above 20.55 (100-day SMA) should strengthen the US dollar. The next resistance stands at 20.70 and then at 20.90.

The weekly chart showed the 20-week SMA at 20.53; a close above would be a negative development for the Mexican peso, suggesting a potential bottom has been established.

USD/MXN daily chart



Today last price 20.4403
Today Daily Change -0.0431
Today Daily Change % -0.21
Today daily open 20.4834
Daily SMA20 20.4823
Daily SMA50 20.8195
Daily SMA100 20.5596
Daily SMA200 20.2821
Previous Daily High 20.4955
Previous Daily Low 20.3252
Previous Weekly High 20.524
Previous Weekly Low 20.2809
Previous Monthly High 21.5164
Previous Monthly Low 20.3261
Daily Fibonacci 38.2% 20.4304
Daily Fibonacci 61.8% 20.3902
Daily Pivot Point S1 20.3739
Daily Pivot Point S2 20.2644
Daily Pivot Point S3 20.2036
Daily Pivot Point R1 20.5442
Daily Pivot Point R2 20.605
Daily Pivot Point R3 20.7146



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