USD/MXN Price Analysis: Mexican peso remains strong, could test 19.50

  • USD/MXN falls for the third consecutive day, still above the 19.75 critical support.
  • Outlook points to further gains for the MXN, under 19.70 likely to drop toward 19.50.

The USD/MXN remains under pressure amid a stronger Mexican peso following mid-term elections in Mexico. The pair drops for the third day in a row and continues to pressure the 19.70/75 area.

A daily close clearly below 19.75 would favor further losses targeting potentially the area around 19.50 with an intermediate support seen at 19.65. Technical indicators also favor the downside and also short-term moving averages.

A recovery above 19.85 would alleviate the bearish momentum. Still, a recovery above 20.00 is needed to negate the current negative tone for USD/MXN. Further to the upside is 20.25, a key resistance: a daily close above would favor more gains.

USD/MXN daily chart



Today last price 19.7545
Today Daily Change -0.0510
Today Daily Change % -0.26
Today daily open 19.8055
Daily SMA20 19.9308
Daily SMA50 20.0304
Daily SMA100 20.2407
Daily SMA200 20.4708
Previous Daily High 19.9699
Previous Daily Low 19.7362
Previous Weekly High 20.2139
Previous Weekly Low 19.8446
Previous Monthly High 20.3286
Previous Monthly Low 19.7191
Daily Fibonacci 38.2% 19.8255
Daily Fibonacci 61.8% 19.8806
Daily Pivot Point S1 19.7045
Daily Pivot Point S2 19.6035
Daily Pivot Point S3 19.4708
Daily Pivot Point R1 19.9382
Daily Pivot Point R2 20.0709
Daily Pivot Point R3 20.1719



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