• Mexican peso flat on Monday versus US dollar after falling during seven days in a row.
  • USD/MXN far from 22.00, above 21.60.
  • Technical indicators turn south from overbought readings.

The USD/MXN is trading marginally lower on Monday, on what could be the end of a seven-day positive streak. Last week, the Mexican peso tumbled on domestic and international developments, with the cross reaching the highest intraday level at 22.15.

It pulled back under 22.00, finding support around 21.65. The main trend and the bias point to the upside. In the short-term technical indicators favor some consolidation ahead, as RSI and Momentum are turning south from overbought levels.

A retreat is seen finding support initially at 21.65 and below at 21.50. If price drops under 21.50, it could alleviate the bullish pressure. Below, the next strong support is located around 21.00.

On the upside, if USD/MXN rises above 21.90, it could likely rise further to test 22.00. The next medium-term resistance area is 22.20 that should hold, at least at the first attempt. A firm break higher, would clear the way to more gains, triggering more volatility.

USD/MXN daily chart

USDMXN

USD/MXN

Overview
Today last price 21.7592
Today Daily Change -0.1835
Today Daily Change % -0.84
Today daily open 21.9427
 
Trends
Daily SMA20 20.8158
Daily SMA50 20.5571
Daily SMA100 20.2851
Daily SMA200 20.2514
 
Levels
Previous Daily High 22.1557
Previous Daily Low 21.5292
Previous Weekly High 22.1557
Previous Weekly Low 20.7845
Previous Monthly High 20.9034
Previous Monthly Low 20.1193
Daily Fibonacci 38.2% 21.9164
Daily Fibonacci 61.8% 21.7685
Daily Pivot Point S1 21.596
Daily Pivot Point S2 21.2493
Daily Pivot Point S3 20.9695
Daily Pivot Point R1 22.2225
Daily Pivot Point R2 22.5024
Daily Pivot Point R3 22.8491

 

 

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