USD/MXN Price Analysis: Bullish momentum eases after finding resistance below 23.00


  • USD/MXN continues to move sideways around 22.50, without clear direction. 
  • Mexican President AMLO is at the White House with US President Trump.

On Tuesday, USD/MX rallied to 22.90 that capped the upside. The mentioned level continues to be a critical level that if broken should lead to more gains, targeting 23.10.

Technical indicators are mixed with RSI turning south but price still above key moving averages in the 4-hour chart. Overall, USD/MXN continues to move sideways unable to move away from 22.50. The 55-day moving average at 23.00 is another critical area.

On the flip side 22.60 is the strong immediante support and a slide below would suggest more strength for the Mexican peso. If the decline continues 22.10/20 should offer support, favoring a rebound back to 22.50.

USD/MXN 4-hour chart

USD/MXN

USD/MXN

Overview
Today last price 22.7764
Today Daily Change -0.0841
Today Daily Change % -0.37
Today daily open 22.8605
 
Trends
Daily SMA20 22.5704
Daily SMA50 22.8916
Daily SMA100 22.7248
Daily SMA200 20.897
 
Levels
Previous Daily High 22.8765
Previous Daily Low 22.2549
Previous Weekly High 23.2298
Previous Weekly Low 22.3794
Previous Monthly High 23.2298
Previous Monthly Low 21.4609
Daily Fibonacci 38.2% 22.639
Daily Fibonacci 61.8% 22.4923
Daily Pivot Point S1 22.4514
Daily Pivot Point S2 22.0424
Daily Pivot Point S3 21.8298
Daily Pivot Point R1 23.073
Daily Pivot Point R2 23.2856
Daily Pivot Point R3 23.6946

 

 

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