USD/MXN Price Analysis: Mexican peso strengthens after breaking under 20.00


  • USD/MXN drops below 20.00, fall to lowest in two months.
  • Outlook point to further gains for the MXN, targeting 19.70/75.

The USD/MXN is falling sharply on Thruways. The decline accelerated after breaking under the 20.00 area. It bottomed so far at 19.89, the lowest level since mid-February. The pair is testing the support at 19.90, and a firm break lower would see the lowest leave since late January.

The outlook continues to favor more losses, with the next target seen at 19.70/75. A recovery back above 20.00 would alleviate the bearish pressure. Above, the next resistance stands at 20.30.

Technical indicators show there is still room for more losses. The RSI is not yet at extreme levels, and neither Momentum. Below 19.70, the YTD low at 19.55 would be exposed.

USD/MXN daily chart

usdmxn

USD/MXN

Overview
Today last price 19.9138
Today Daily Change -0.1589
Today Daily Change % -0.79
Today daily open 20.0727
 
Trends
Daily SMA20 20.4053
Daily SMA50 20.4927
Daily SMA100 20.2287
Daily SMA200 20.9066
 
Levels
Previous Daily High 20.1304
Previous Daily Low 20.0118
Previous Weekly High 20.3811
Previous Weekly Low 20.0633
Previous Monthly High 21.6353
Previous Monthly Low 20.2818
Daily Fibonacci 38.2% 20.0572
Daily Fibonacci 61.8% 20.0851
Daily Pivot Point S1 20.0129
Daily Pivot Point S2 19.9531
Daily Pivot Point S3 19.8943
Daily Pivot Point R1 20.1315
Daily Pivot Point R2 20.1903
Daily Pivot Point R3 20.2501

 

 

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