• The Mexican peso rises for the fifth consecutive day on Monday versus the US dollar.
  • USD/MXN’s momentum favors the downside as it approaches the 20.00 area.
  • The 20.25 area turns now to resistance.

The USD/MXN continued its decline on Monday and dropped to 20.04, reaching the lowest level since April 5. Bearish signs increased after the pair decreased below the 20-day Simple Moving Average and as Momentum turned further to the downside, under 100. Another negative sign for the pair is the decline under a short-term bearish trendline.

If the decline continues, USD/MXN will likely challenge the 20.00 area. The May low at 19.99 is a strong support and a break lower could clear the way to 19.90, the next support.

Any rebound, while under 20.25, should be seen as corrective. While a recovery above 20.30 would negate the current negative bias. Above the critical resistance await at 20.45. A daily close above would be a positive development for the greenback, exposing 20.70.

USD/MXN daily chart

USD/MXN

USD/MXN

Overview
Today last price 20.0768
Today Daily Change -0.0260
Today Daily Change % -0.13
Today daily open 20.1028
 
Trends
Daily SMA20 20.2395
Daily SMA50 20.2775
Daily SMA100 20.3943
Daily SMA200 20.4447
 
Levels
Previous Daily High 20.2725
Previous Daily Low 20.0781
Previous Weekly High 20.475
Previous Weekly Low 20.0781
Previous Monthly High 20.6382
Previous Monthly Low 19.7269
Daily Fibonacci 38.2% 20.1524
Daily Fibonacci 61.8% 20.1982
Daily Pivot Point S1 20.0298
Daily Pivot Point S2 19.9567
Daily Pivot Point S3 19.8354
Daily Pivot Point R1 20.2242
Daily Pivot Point R2 20.3455
Daily Pivot Point R3 20.4186

 

 

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