USD/MXN Price Analysis: Daily chart points to further gains, could test 22.00

Mexican peso for the third consecutive day versus the US dollar, off monthly highs.
USD/MXN starting to look overbought in the very short-term but bullish on the daily chart.

Matías Salord FXStreet

The USD/MXN continues to move higher. It resumed the upside after making a pullback to the 21.30 area. It is trading above 21.60 at the highest in two weeks. While the 4-hour chart is starting to show technical indicators at overbought levels (not yet signs of a correction or consolidation) the daily chart is looking more bullish every session.

If the upside continues, USD/MXN will face a strong resistance area between 21.70 and 21.90, where the 20-day moving average is seen, and also a horizontal resistance and downtrend lines. A consolidation above 22.00 would clear the way to more gains. The 50-SMA at 21.98 is a potential target of the current rally.

A failure at current levels should alleviate the bullish pressure of the pair. While a decline back below 21.30 would be a positive development for the Mexican peso.

USD/MXN daily chart

USD/MXN

Overview
Today last price	21.5848
Today Daily Change	0.2355
Today Daily Change %	1.10
Today daily open	21.3493

Trends
Daily SMA20	21.5183
Daily SMA50	21.9737
Daily SMA100	22.3718
Daily SMA200	21.6317

Levels
Previous Daily High	21.591
Previous Daily Low	21.0462
Previous Weekly High	21.2988
Previous Weekly Low	20.8444
Previous Monthly High	22.9106
Previous Monthly Low	21.7322
Daily Fibonacci 38.2%	21.3829
Daily Fibonacci 61.8%	21.2543
Daily Pivot Point S1	21.0667
Daily Pivot Point S2	20.7841
Daily Pivot Point S3	20.5219
Daily Pivot Point R1	21.6115
Daily Pivot Point R2	21.8736
Daily Pivot Point R3	22.1562

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.