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

 

 

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