USD/MXN rebounds again near 19.00, approaches 19.20


  • Mexican peso lacks of strength to break the 19.00 strong technical and psychological barrier. 
  • USD/MXN rebounds from critical support remains in recent range. 

The USD/MXN pair is rising on Monday but remain in the recent consolidation range, holding close to monthly lows. Earlier today, the improvement in market sentiment pushed the pair to 19.04, a few pips above the three month low set in October at 19.01. Then it rebounded, erasing daily gains and as of writing trades at 19.16. 

The Mexican peso again lost strength near a key technical support located around 19.00. A daily close below the mentioned level could clear the way to more losses, including a test of the 2019 low at 18.74. 

In the short-term, the pair continues to move within the mentioned support and 19.20/25 that has become a crucial resistance; the area also includes the 20-day moving average. Above the US Dollar will likely gain momentum and rise to test 19.30. 

The Greenback on Monday traded with losses during the Asian session. It then recovered, turning positive across the board, despite weaker-than-expected US data and supported by higher US yields. “Financial markets veered back toward a risk-on mood last Friday, after the U.S. employment report suggested that the slowdown in US labor markets may not have  been as pronounced in the 3Q19 as previously thought, while optimism about a potential agreement on phase one of the U.S.-China trade agreement also helps moderate risk aversion,” explained BBVA analysts. 

 

USD/MXN

Overview
Today last price 19.1576
Today Daily Change 0.0466
Today Daily Change % 0.24
Today daily open 19.111
 
Trends
Daily SMA20 19.2406
Daily SMA50 19.5013
Daily SMA100 19.3786
Daily SMA200 19.2622
 
Levels
Previous Daily High 19.2428
Previous Daily Low 19.0691
Previous Weekly High 19.246
Previous Weekly Low 19.0176
Previous Monthly High 19.8623
Previous Monthly Low 19.0176
Daily Fibonacci 38.2% 19.1354
Daily Fibonacci 61.8% 19.1764
Daily Pivot Point S1 19.0391
Daily Pivot Point S2 18.9673
Daily Pivot Point S3 18.8655
Daily Pivot Point R1 19.2128
Daily Pivot Point R2 19.3146
Daily Pivot Point R3 19.3865

 

 

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