USD/MXN Price Analysis: Decline gains momentum below 21.50

Mexican peso continues to outperform, heads for the highest close since September 21.
USD/MXN drops for the fourth consecutive day falls under 21.50.

Matías Salord FXStreet

The USD/MXN is again falling almost 1%, accumulating a decline of 4.5% from the level it had a week ago as the Mexican peso continues to outperform. On Monday the slide is also being driven by a weaker US Dollar and high equity prices.

Price is now below a downtrend line that was broken weeks ago that stands at 21.48. If USD/MXN holds below, more losses seem likely. The next target might be seen at 21.15/20 and below at 21.00. The next strong barrier could be seen around September lows near 20.85.

On the upside, a recovery in USD/MXN above 21.50 would alleviate the bearish pressure, and above 21.65 (20-day moving average) the greenback could strengthen for a test of 21.95/22.00.

USD/MXN daily chart

USD/MXN

Overview
Today last price	21.4028
Today Daily Change	-0.2161
Today Daily Change %	-1.00
Today daily open	21.6189

Trends
Daily SMA20	21.6516
Daily SMA50	21.9186
Daily SMA100	22.1978
Daily SMA200	21.7742

Levels
Previous Daily High	22.0655
Previous Daily Low	21.5755
Previous Weekly High	22.6556
Previous Weekly Low	21.5755
Previous Monthly High	22.7008
Previous Monthly Low	20.8444
Daily Fibonacci 38.2%	21.7627
Daily Fibonacci 61.8%	21.8783
Daily Pivot Point S1	21.4411
Daily Pivot Point S2	21.2633
Daily Pivot Point S3	20.9511
Daily Pivot Point R1	21.9311
Daily Pivot Point R2	22.2433
Daily Pivot Point R3	22.4211

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.

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