USD/MXN Price Analysis: Mexican peso gains after Banxico, still faces negative outlook

  • The Mexican peso rose across the board after Banxico’s meeting.
  • USD/MXN drops on Friday for the second day in a row remains above short-term trendline.

The USD/MXN is falling on Friday, is about to end the week slightly above the level it had seven days ago. Price bottomed on 20.53, and continues to press against the 20.50/55 critical support area.

A consolidation under 20.50 would strengthen the Mexican peso, opening the doors for a slide to the next barrier at 20.25/30. As long as it remains above 20.50, the odds will favor more gains.

On the upside, USD/MXN seems limited while below 20.80. A consolidation above 20.80 should clear the way for a test of 21.00. The next resistance levels are located at 21.10 and 21.30, which protects the medium-term barrier of 21.50.

The daily chart shows mixed signs. Price is back below the 20-day SMA, and the Momentum points to the downside. The RSI is flat and longer-term moving averages have a positive slope supporting a bullish outlook.

USD/MXN daily chart



Today last price 20.5755
Today Daily Change -0.1042
Today Daily Change % -0.50
Today daily open 20.6797
Daily SMA20 20.8081
Daily SMA50 20.4165
Daily SMA100 20.2282
Daily SMA200 21.074
Previous Daily High 20.9531
Previous Daily Low 20.5776
Previous Weekly High 20.827
Previous Weekly Low 20.2818
Previous Monthly High 21.0483
Previous Monthly Low 19.8822
Daily Fibonacci 38.2% 20.721
Daily Fibonacci 61.8% 20.8096
Daily Pivot Point S1 20.5205
Daily Pivot Point S2 20.3613
Daily Pivot Point S3 20.145
Daily Pivot Point R1 20.896
Daily Pivot Point R2 21.1123
Daily Pivot Point R3 21.2715



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