USD/MXN Price Analysis: More gains limited while under 20.55

Mexican peso recovers some lost ground versus the US dollar after falling to the lowest since March.
USD/MXN flat on Thursday after a pullback from 20.62.

Matías Salord FXStreet

The USD/MXN peaked on Thursday at 20.62, the highest intraday level since late March. It then pulled back amid lower US yields and despite risk aversion. The pair dropped back under 20.50, and it is hovering around 20.35, marginally lower for the day about to post the first negative close since last Thursday.

The outlook now points to the upside, but the rally in USD/MXN calls for some precaution. While under 20.50, the odds of more gains seem limited. A close above the mentioned level would expose the next resistance seen at 20.60, followed by 20.80/85.

The daily RSI is approaching the 70 area, suggesting some consolidation ahead before another potential leg higher. The USD/MXN could trade between the 100-day moving average at 20.25 and 20.55. A slide below 19.95 would negate any upside bias, favoring more losses ahead.

USD/MXN daily chart

USD/MXN

Overview
Today last price	20.4833
Today Daily Change	0.0756
Today Daily Change %	0.37
Today daily open	20.4077

Trends
Daily SMA20	19.9259
Daily SMA50	19.972
Daily SMA100	20.2417
Daily SMA200	20.4104

Levels
Previous Daily High	20.4279
Previous Daily Low	19.9521
Previous Weekly High	20.0023
Previous Weekly Low	19.5983
Previous Monthly High	20.3286
Previous Monthly Low	19.7191
Daily Fibonacci 38.2%	20.2461
Daily Fibonacci 61.8%	20.1339
Daily Pivot Point S1	20.0972
Daily Pivot Point S2	19.7868
Daily Pivot Point S3	19.6215
Daily Pivot Point R1	20.573
Daily Pivot Point R2	20.7383
Daily Pivot Point R3	21.0488

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD holds steady above 1.1850 in quiet session

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day holiday.

GBP/USD flat lines near 1.3650 ahead of UK and US data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.3650 on Monday. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important data releases from the UK and the US.

Gold corrects lower, tries to stabilize above $5,000

Gold started the week under bearish pressure and declined to the $4,960 area before staging a modest rebound. As trading volumes remain thin with the US financial markets remaining closed on Presidents' Day holiday, XAU/USD looks to stabilize above $5,000 ahead of this week's key data releases.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.