USD/MXN Technical Analysis: Bearish correction losses strength, back to the range
- The USD/MXN bottomed yesterday at 19.98 and then pulled back. Today recovered further and reached 20.33. Near the end of the US session stands around 20.30, marginally below the 20-day moving average.
- The intraday bullish tone eased after being unable to break above 20.35 and also after pulling back under the 20-day moving average. A confirmation significantly above 20.35 would signal that price could continue to move sideways, including a test of 20.50.
- To the downside, a slide below 20.20 would increase the momentum of the Mexican peso, opening the doors for another test of 20.00. A firm break to 20.00 is needed to clear the way to more losses, with a potential target at 19.60/70.
- The long-term trend is bullish, but short-term signal shows a lack of strength at the moment. A weekly close above 20.50 could point to more gain while below 20.00, further losses seem more likely.

USD/MXN
Overview:
Today Last Price: 20.3029
Today Daily change %: 1.08%
Today Daily Open: 20.085
Trends:
Previous Daily SMA20: 20.3339
Previous Daily SMA50: 19.8668
Previous Daily SMA100: 19.3787
Previous Daily SMA200: 19.2898
Levels:
Previous Daily High: 20.235
Previous Daily Low: 19.9874
Previous Weekly High: 20.658
Previous Weekly Low: 20.0079
Previous Monthly High: 20.6355
Previous Monthly Low: 19.576
Previous Daily Fibonacci 38.2%: 20.082
Previous Daily Fibonacci 61.8%: 20.1404
Previous Daily Pivot Point S1: 19.9699
Previous Daily Pivot Point S2: 19.8548
Previous Daily Pivot Point S3: 19.7223
Previous Daily Pivot Point R1: 20.2176
Previous Daily Pivot Point R2: 20.3501
Previous Daily Pivot Point R3: 20.4652
Author

Matías Salord
FXStreet
Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.
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