USD/MXN Price Analysis: Strong rebound above 20.00, eyes on the 100-SMA


  • Mexican peso among worst performers on Tuesday.
  • USD/MXN breaks above 20.00 and extends the rally.
  • Outlook points to further gains for the USD while above 20.05.

The USD/MXN broke above 20.00/05 a few hours ago and jumped to 20.16, reaching the highest level since June 4. It is hovering near the top with the bullish tone intact, despite overbought readings in very short-term technical indicators.

The US dollar is rising for the third consecutive day, consolidating above the 20-day moving average and now looking to the 20.20 resistance area and the 100-day SMA at 20.23.

The area around 20.20/25 is the next critical resistance that should limit the upside, favoring a rebound. A break higher would suggest more gains ahead for 20.30. A daily close above 20.30 should clear the way to more gains, targeting 20.50.

If the USD/MX drops back under 20.00/05, the bullish pressure will ease. A daily close under 19.90 should put the bias in favor of the Mexican peso, while under 19.80, the next level is the recent low around 19.60.

Technical levels

usdmxn

USD/MXN

Overview
Today last price 20.1388
Today Daily Change 0.1784
Today Daily Change % 0.89
Today daily open 19.9604
 
Trends
Daily SMA20 19.8934
Daily SMA50 19.9707
Daily SMA100 20.2401
Daily SMA200 20.424
 
Levels
Previous Daily High 19.9803
Previous Daily Low 19.8385
Previous Weekly High 20.0023
Previous Weekly Low 19.5983
Previous Monthly High 20.3286
Previous Monthly Low 19.7191
Daily Fibonacci 38.2% 19.9262
Daily Fibonacci 61.8% 19.8927
Daily Pivot Point S1 19.8725
Daily Pivot Point S2 19.7846
Daily Pivot Point S3 19.7307
Daily Pivot Point R1 20.0143
Daily Pivot Point R2 20.0682
Daily Pivot Point R3 20.1562

 

 

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