USD/MXN Price Analysis: Looking at 23.20 while above 22.50

USD/MXN rose above the 22.50 area, opening to doors to more gains.
So far, it peaked at 22.90, next obstacles emerge at 23.05 and 23.25.

Matías Salord FXStreet

The USD/MXN broke on Monday a critical technical zone at 22.50. That level contained the 20 and 50-day moving average, a downtrend line and a horizontal level. While above, the US dollar looks ready to extend gains.

On Tuesday, the pair peaked 22.90, the highest level in a month before pulling back amid a retreat of the greenback. The immediate resistance is the 22.90 zone and a break higher would likely lead to more gains above 23.00, targeting June highs at 23.25.

A failure to break 22.90 could suggest some consolidations ahead between 22.90 and 22.25, with an intermediate support at 22.50.

USD/MXN

Overview
Today last price	22.7879
Today Daily Change	0.1490
Today Daily Change %	0.66
Today daily open	22.6389

Trends
Daily SMA20	22.3969
Daily SMA50	22.3578
Daily SMA100	23.1674
Daily SMA200	21.1863

Levels
Previous Daily High	22.6998
Previous Daily Low	22.2477
Previous Weekly High	22.3328
Previous Weekly Low	21.8473
Previous Monthly High	23.0953
Previous Monthly Low	21.8473
Daily Fibonacci 38.2%	22.5271
Daily Fibonacci 61.8%	22.4204
Daily Pivot Point S1	22.3578
Daily Pivot Point S2	22.0767
Daily Pivot Point S3	21.9057
Daily Pivot Point R1	22.8099
Daily Pivot Point R2	22.9809
Daily Pivot Point R3	23.262

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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