USD/MXN Price Analysis: Resistance at 19.60 limits the upside


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  • Mexican peso gains versus US dollar after three days.
  • USD/MXN finds resistance at the 20-day SMA before 19.60.
  • Interim support at 19.40, key level at 19.30.

The USD/MXN is falling on Tuesday after rising during three consecutive days, on a quiet session for financial markets. The rebound from monthly lows found resistance near the 19.60 barrier. The pair reversed its course after reaching the 20-day Simple Moving Average.

The ongoing retreat could extend toward the interim support area of 19.40. A break lower would expose the critical 19.25/30 zone that capped the downside last week. Below that area, the next target is seen at 19.00/05 (intermediate resistance at 19.15).

Technical indicators area mixed. Momentum is still moving to the upside but the RISE is starting to turn south. Price holds below key moving averages. A consolidation between 19.30 and 19.60 over the next sessions seems likely.

If the Dollar breaks and holds above 19.60 it would gain strength and could rise to the next barrier at 19.80.

USDMXN daily chart

USDMXN

USD/MXN

Overview
Today last price 19.4754
Today Daily Change -0.0707
Today Daily Change % -0.36
Today daily open 19.5461
 
Trends
Daily SMA20 19.5849
Daily SMA50 19.8698
Daily SMA100 20.0691
Daily SMA200 20.1274
 
Levels
Previous Daily High 19.5924
Previous Daily Low 19.415
Previous Weekly High 19.5733
Previous Weekly Low 19.2497
Previous Monthly High 20.177
Previous Monthly Low 19.785
Daily Fibonacci 38.2% 19.5247
Daily Fibonacci 61.8% 19.4828
Daily Pivot Point S1 19.4433
Daily Pivot Point S2 19.3405
Daily Pivot Point S3 19.2659
Daily Pivot Point R1 19.6206
Daily Pivot Point R2 19.6952
Daily Pivot Point R3 19.798

 

 

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