USD/MXN Price Analysis: Mexican peso holds onto recent gains, still near 19.75


  • Mexican peso remains strong holding to last week’s gains across the board.
  • USD/MXN sideways on Monday, after falling for five consecutive days.

The USD/MXN bottomed on Thursday at 19.69, the lowest level in two weeks. The mentioned level is slightly above the June low of 19.59. The bias point to the downside, but the pair needs to hold firmly under 19.75 to keep the negative momentum intact.

On the flip side at 19.60/65 is a relevant support; and below comes the 19.50 area. The current price action zone is well known for the USD/MXN so a consolidation here could last. A break under 19.50 should lead to more losses.

On the upside, the USD/MXN needs to rise above 20.05 to alleviate the negative bias. Above the next strong resistance stands at 20.30.

On the weekly chart, a close under 19.70 would point to more losses over the medium-term, as the price would consolidate under a key horizontal support and also below the 20-week moving average.

USD/MXN weekly chart

usdmxn

USD/MXN

Overview
Today last price 19.7824
Today Daily Change -0.0301
Today Daily Change % -0.15
Today daily open 19.8125
 
Trends
Daily SMA20 20.0489
Daily SMA50 19.9997
Daily SMA100 20.2398
Daily SMA200 20.38
 
Levels
Previous Daily High 19.9066
Previous Daily Low 19.7056
Previous Weekly High 20.7138
Previous Weekly Low 19.7056
Previous Monthly High 20.3286
Previous Monthly Low 19.7191
Daily Fibonacci 38.2% 19.7824
Daily Fibonacci 61.8% 19.8298
Daily Pivot Point S1 19.7099
Daily Pivot Point S2 19.6072
Daily Pivot Point S3 19.5088
Daily Pivot Point R1 19.9109
Daily Pivot Point R2 20.0093
Daily Pivot Point R3 20.1119

 

 

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