• Mexican peso rises versus the US dollar for the ninth time out of the last ten days.
  • USD/MXN stays bearish, about to test critical support at 2022 lows.
  • The 19.90 area is not the immediate resistance.

 The USD/MXN continued its decline on Monday and dropped to 19.77, reaching the lowest level since April 19. The outlook points to a test of the year-to-day low at 19.72. A daily close below 19.70 would point to the next strong support around 19.50.

Despite falling constantly during the last two weeks, technical indicators in the daily chart favor the downside, with the RSI pointing south and above 30. Momentum is firm in negative territory. The Mexican peso has in front the 19.70 area that could be hard to break. If it fails to break lower a rebound seems likely.

In the short-term, USD/MXN could likely moved sideways between 19.90 and 19.70. The 19.90 zone has become the immediate resistance. Above the next level to watch is 20.05. If the dollar rises above the 20-day Simple Moving Average, today at 20.19, the bearish outlook would be negated.

USD/MXN daily chart

USDMXN

USD/MXN

Overview
Today last price 19.8231
Today Daily Change -0.0344
Today Daily Change % -0.17
Today daily open 19.8575
 
Trends
Daily SMA20 20.2171
Daily SMA50 20.1634
Daily SMA100 20.3628
Daily SMA200 20.444
 
Levels
Previous Daily High 19.9634
Previous Daily Low 19.8281
Previous Weekly High 20.1838
Previous Weekly Low 19.8281
Previous Monthly High 20.6382
Previous Monthly Low 19.7269
Daily Fibonacci 38.2% 19.8798
Daily Fibonacci 61.8% 19.9117
Daily Pivot Point S1 19.8026
Daily Pivot Point S2 19.7477
Daily Pivot Point S3 19.6673
Daily Pivot Point R1 19.9379
Daily Pivot Point R2 20.0183
Daily Pivot Point R3 20.0732

 

 

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