• USD/MXN is correcting lower after Tuesday’s rally.
  • Still looking at 20.80/21.00, but signals are mixed.

The USD/MXN is falling sharply, after having the best day in weeks on Tuesday. The pair peaked at 20.82 and then started to move to the downside. The 20.80 zone has become a strong barrier and a consolidation above it should open the doors to 20.90. Then, attention would turn to 21.00. A daily close above 21.00 would strengthen the bullish outlook.

If the bearish correction extends, a support area emerges at 20.45 and then at 20.25. A break under 20.25 would negate the bullish bias, exposing 20.00.

Technical indicators are mixed, with Momentum and the RSI moving around midlines, undecided. Price is near flats 20 and 200-day Simple Moving Averages.

USD/MXN Daily chart

usdmxn daily chart

On the weekly chart, USD/MXN continues to be unable to post a close above 20.60, which should point to further gains in the medium term.

USD/MXN weekly chart

usdmxn weekly chart

USD/MXN

Overview
Today last price 20.5629
Today Daily Change -0.2232
Today Daily Change % -1.07
Today daily open 20.7861
 
Trends
Daily SMA20 20.5588
Daily SMA50 20.2104
Daily SMA100 20.1666
Daily SMA200 20.4382
 
Levels
Previous Daily High 20.8348
Previous Daily Low 20.358
Previous Weekly High 20.5876
Previous Weekly Low 20.2052
Previous Monthly High 21.0539
Previous Monthly Low 20.0921
Daily Fibonacci 38.2% 20.6526
Daily Fibonacci 61.8% 20.5401
Daily Pivot Point S1 20.4845
Daily Pivot Point S2 20.1829
Daily Pivot Point S3 20.0077
Daily Pivot Point R1 20.9612
Daily Pivot Point R2 21.1364
Daily Pivot Point R3 21.438

 

 

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