• USD/MXN rises for the third consecutive day, again above 20.00.
  • The dollar needs to hold above 20.00, next resistance at 20.15/20.
  • Slide under 19.90 to remove bullish bias.

The USD/MXN is rising for the third consecutive day, although so far, it has failed to print fresh weekly highs. The upside remains capped below 20.10. The next critical resistance is seen around 20.15/20, an area that contains horizontal resistances and also the 100-day Simple Moving Average.

A firm break above 20.25 would open the doors to more gains targeting the 20.50 area.

In the very short term, the bias is to the upside, with technical indicators flat to bullish. The momentum is not strong enough and appears to be fading. The bias will weaken with a decline back under 20.00. While a daily close well above 20.00 would be a positive sign for the bulls.

A key support emerges at 19.90 that if fails to hold, USD/MXN could drop further to test again the 19.80 area.

USD/MXN Daily chart

USD/MXN

Overview
Today last price 20.0397
Today Daily Change 0.0629
Today Daily Change % 0.31
Today daily open 19.9768
 
Trends
Daily SMA20 20.2785
Daily SMA50 20.3164
Daily SMA100 20.154
Daily SMA200 20.4165
 
Levels
Previous Daily High 20.0921
Previous Daily Low 19.8189
Previous Weekly High 20.4435
Previous Weekly Low 19.8104
Previous Monthly High 21.0539
Previous Monthly Low 20.0921
Daily Fibonacci 38.2% 19.9878
Daily Fibonacci 61.8% 19.9233
Daily Pivot Point S1 19.8331
Daily Pivot Point S2 19.6894
Daily Pivot Point S3 19.5599
Daily Pivot Point R1 20.1063
Daily Pivot Point R2 20.2358
Daily Pivot Point R3 20.3795

 

 

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