USD/MXN Price Analysis: Mexican peso near monthly highs, could test 19.50


  • USD/MXN holds under 20.00, tests the 19.70 area.
  • Outlook points to further gains for the MXN; below 19.70, attention turns to 19.50.

The USD/MXN is rising modestly on Tuesday after it bottomed at 19.71, the lowest levels since mid-January. It tested the 19.70/75 area and rebounded. It is back above 19.80, but the bias still points to the downside.

The outlook continues to favor more losses. The target at 19.70/75 has been reached. A close under 19.70 would leave the pair vulnerable to more losses, with a potential target on the 19.50/55 area.

Technical indicators favor the downside, but the momentum eased. The dollar needs to rise back above 20.00 to alleviate the bearish pressure. A daily close above 20.20/25 would suggest that a temporal bottom is in place.

USD/MXN daily chart

usdmxn

USD/MXN

Overview
Today last price 19.8073
Today Daily Change 0.0269
Today Daily Change % 0.14
Today daily open 19.7804
 
Trends
Daily SMA20 20.0027
Daily SMA50 20.2585
Daily SMA100 20.2313
Daily SMA200 20.6317
 
Levels
Previous Daily High 19.9526
Previous Daily Low 19.7619
Previous Weekly High 20.2141
Previous Weekly Low 19.7542
Previous Monthly High 20.498
Previous Monthly Low 19.7799
Daily Fibonacci 38.2% 19.8348
Daily Fibonacci 61.8% 19.8798
Daily Pivot Point S1 19.7107
Daily Pivot Point S2 19.6409
Daily Pivot Point S3 19.5199
Daily Pivot Point R1 19.9014
Daily Pivot Point R2 20.0224
Daily Pivot Point R3 20.0921

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD struggles around 1.19 amid Fed-fueled dollar strength

EUR/USD is under pressure around 1.19, as the dollar remains on the offensive following the Federal Reserve's hawkish decision on Wednesday. The bank is set to debate cutting down its bond buys and signaled raising rates sooner than anticipated. 

EUR/USD News

GBP/USD tumbles below 1.39 on weak UK data, dollar strength

GBP/USD has been extending its decline, sliding under 1.39. UK retail sales disappointed with -1.4% in May and the rapid spread of the Delta variant in the UK is also weighing on sterling. The US dollar remain robust after the Fed's hawkish decision.

GBP/USD News

GBP/USD tumbles below 1.39 on weak UK data, dollar strength

GBP/USD has been extending its decline, sliding under 1.39. UK retail sales disappointed with -1.4% in May and the rapid spread of the Delta variant in the UK is also weighing on sterling. The US dollar remain robust after the Fed's hawkish decision.

GBP/USD News

Ripple fears of a major decline are unwarranted

XRP price remains locked in a range between the psychologically important $1.00 and the neckline of a multi-year inverse head-and-shoulders pattern at $0.76. However, a lack of technical clues leaves frothy forecasts on the sideline until directional confirmation can be gleaned from the charts.

Read more

Where next for markets after the Fed shocker

The Fed surprised markets with an abrupt hawkish shift that has triggered substantial volatility in currency markets. Valeria Bednarik and Yohay Elam explain the surprise, discuss technical level, the next moves in FX and beyond.

Read more

Forex MAJORS

Cryptocurrencies

Signatures