USD/MXN Price Analysis: Upside limited while below 20.05

  • Mexican peso continues to trade sideways, bearish risk rises.
  • USD/MXN testing the 20.05 area, supported by uptrend line.

The USD/MXN is rising again on Tuesday on the back of a stronger US dollar across the board. Gains are likely to remain limited as longs price continues to be unable to hold firm above 20.05. The area around 20.05 contains a horizontal resistance and also the 20-day moving average.

A break above 20.05 should point to more gains, with the target at 20.20, the 100-day moving average. The next resistance is located at 20.30.

The bias in the short-term is neutral. Technical indicators are biased modestly to the upside. A break under the 19.80 area (uptrend line) would change the bias to bearish, exposing the June low at 19.59.

USD/MXN daily chart



Today last price 19.988
Today Daily Change 0.1381
Today Daily Change % 0.70
Today daily open 19.8499
Daily SMA20 20.0574
Daily SMA50 19.9832
Daily SMA100 20.2086
Daily SMA200 20.2657
Previous Daily High 20.0124
Previous Daily Low 19.8304
Previous Weekly High 20.1621
Previous Weekly Low 19.7638
Previous Monthly High 20.7488
Previous Monthly Low 19.5983
Daily Fibonacci 38.2% 19.8999
Daily Fibonacci 61.8% 19.9429
Daily Pivot Point S1 19.7827
Daily Pivot Point S2 19.7155
Daily Pivot Point S3 19.6007
Daily Pivot Point R1 19.9647
Daily Pivot Point R2 20.0796
Daily Pivot Point R3 20.1468



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