- 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
|Today last price||19.9138|
|Today Daily Change||-0.1589|
|Today Daily Change %||-0.79|
|Today daily open||20.0727|
|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|
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.