USD/MXN Price Analysis: Continues to move in ranges, still near 21.00


  • Mexican peso rises versus US dollar on Thursday, boosted by a recovery in Wall Street.
  • USD/MXN bias remains bullish; consolidation persists in the short term.

The USD/MXN is trading around 20.80, as it continues to move sideways in the short-term, with a bullish bias. The pair again failed to break above 21.00 and pulled back. The 21.00 mark is a critical resistance, and a consolidation above 21.10 would target the 21.50 level.

The outlook is USD/MXN still favors the upside. It needs to break above 21.00 to open the doors to more gains. The strong immediate support stands at 20.50; a decline below would lead to an extension of the correction.

The critical support for the upside bias is seen at 20.12/18, the convergence of an uptrend line, horizontal support and the 55-day simple moving average. The mentioned average just crossed the 100-day moving average, a bullish sign.

USD/MXN daily chart

 

USD/MXN

Overview
Today last price 20.8152
Today Daily Change -0.1296
Today Daily Change % -0.62
Today daily open 20.9448
 
Trends
Daily SMA20 20.3765
Daily SMA50 20.1222
Daily SMA100 20.2767
Daily SMA200 21.1759
 
Levels
Previous Daily High 20.9994
Previous Daily Low 20.5519
Previous Weekly High 21.0483
Previous Weekly Low 20.3502
Previous Monthly High 21.0483
Previous Monthly Low 19.8822
Daily Fibonacci 38.2% 20.8285
Daily Fibonacci 61.8% 20.7229
Daily Pivot Point S1 20.6646
Daily Pivot Point S2 20.3845
Daily Pivot Point S3 20.2171
Daily Pivot Point R1 21.1122
Daily Pivot Point R2 21.2796
Daily Pivot Point R3 21.5597

 

 

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