USD/MXN Price Analysis: Mexican peso under pressure amid risk aversion, eyes 21.50

  • Mexican peso under pressure amid risk aversion across financial markets.
  • USD/MXN breaks 21.00 area, reaffirms bullish outlook.

The USD/MXN broke above 21.00 and rose further. It peaked at 21.41 before pulling back to the 21.25 area. The rally reinforced the bullish outlook. Currently, it is hovering around a technical area, and a close above 21.30 would suggest the momentum remains firm, even despite overbought readings.

The move off highs suggests the possibility of some consolidation before another move. With sharp moves in Wall Street, the week might not be over. Also, the US dollar's profit-taking correction is not looking favorable to go on at the moment.

Above 21.35, the USD/MXN could head toward the next target that is seen at 21.50. The area 21.45/50 is a relevant resistance that could limit more gain, favouring some correction. If the move higher continues, there is not much protection toward 22.00; an interim resistance is seen around 21.75.

On the flip side, a correction might find support at 21.10 and then 21.00. A relevant level continues to be 20.60: a decline below would alleviate the bearish pressure.

USD/MXN daily chart 



Today last price 21.2676
Today Daily Change 0.1417
Today Daily Change % 0.67
Today daily open 21.1259
Daily SMA20 20.4133
Daily SMA50 20.1468
Daily SMA100 20.2752
Daily SMA200 21.1705
Previous Daily High 21.1708
Previous Daily Low 20.7585
Previous Weekly High 21.0483
Previous Weekly Low 20.3502
Previous Monthly High 21.0483
Previous Monthly Low 19.8822
Daily Fibonacci 38.2% 21.0133
Daily Fibonacci 61.8% 20.916
Daily Pivot Point S1 20.866
Daily Pivot Point S2 20.6061
Daily Pivot Point S3 20.4538
Daily Pivot Point R1 21.2783
Daily Pivot Point R2 21.4306
Daily Pivot Point R3 21.6905



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

GME stock positioned for another short squeeze

Get the full analysis and chart in our Insights. Upgrade to Premium today    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD loses 1.21 as the dollar extends its gains

EUR/USD has dipped below 1.21, some 70 pips down on the day as the dollar recovers alongside Treasury yields. US Consumer Sentiment beat estimates with 86.4 points. 


GBP/USD retreats amid UK GDP miss, reopening concerns

GBP/USD is hovering around 1.4150, down on the day. UK GDP missed with 2.3% in April and a four-week delay to Britain's reopening is speculated. The greenback is gaining some ground.


XAU/USD drops back below $1900, as US dollar rebounds ahead of data

Gold price has retraced below the $1900 mark once again, having tested Tuesday’s high near $1903. The latest leg down in gold price comes on the back of a tepid bounce staged by the US dollar, as the Treasury yields trim losses across the curve.

Gold News

Ethereum price prepares for a bullish weekend, targeting $3,000

Ethereum price seems prime to revisit $3,000. Although ETH faces resistance at $2,300, the upswing seems imminent. A downswing below $2,000 could invalidate the bullish thesis. 

Read more

Hot Inflation is warming the seat for the June FOMC

Americans are seeing the fastest price increases since their seventh-graders were born as inflation builds into the US economy from the disruptions of the pandemic lockdowns. Core CPI at 3.8% is the steepest gain in 29 years.

Read more