USD/MXN Technical Analysis: Correction over?

  • Mexican peso losses strength in the market but manages to recover from daily losses against US dollar on Tuesday. 
  • The USD/MXN rose 1.45% from yesterday low to today’s top at 18.99, before pulling back to 18.87. The retreat from the top shows that while the downside currently is limited, the correction has lost momentum. The main trend still points to the downside. 
  • The pair was reversed below 19.00 and pulled back under 18.90, offering mix signals about the short-term future. The bearish momentum will likely intensify if the pair drops below 18.80 that would clear the way for a test of the critical support seen at 18.70/75. 
  • On the upside, a consolidation above 18.95 would point to further strength and a daily close above 19.03 (20-day moving average) would signal that a bottom is in place. 

USD/MXN Daily Chart

USD/MXN

USD/MXN

Overview
Today last price 18.8722
Today Daily Change 0.0174
Today Daily Change % 0.09
Today daily open 18.8548
 
Trends
Daily SMA20 19.0519
Daily SMA50 19.1696
Daily SMA100 19.4112
Daily SMA200 19.3105
Levels
Previous Daily High 18.8988
Previous Daily Low 18.7448
Previous Weekly High 19.1297
Previous Weekly Low 18.7473
Previous Monthly High 19.6225
Previous Monthly Low 18.7464
Daily Fibonacci 38.2% 18.84
Daily Fibonacci 61.8% 18.8036
Daily Pivot Point S1 18.7668
Daily Pivot Point S2 18.6788
Daily Pivot Point S3 18.6128
Daily Pivot Point R1 18.9208
Daily Pivot Point R2 18.9868
Daily Pivot Point R3 19.0748

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD steady around 1.1240 in ultra-thin holiday's trading

The EUR/USD pair bounced some 20 pips from its weekly low during the Asian session, now mute around 1.1240 with most market's off today. Softer-than-expected US housing data passed unnoticed.

EUR/USD News

GBP/USD battling around 1.3000

The GBP/USD pair is heading nowhere fast after bottoming for the week at 1.2978, amid lack of progress in Brexit negotiations.  Encouraging UK data failed to trigger Pound's demand.

GBP/USD News

USD/JPY: On track to close in the middle of its 50-pip weekly range below 112

The USD/JPY pair remains frozen below the 112 handle in the NA session and there is no reason for it to make a meaningful move as investors are already enjoying the Easter holiday.

USD/JPY News

The Tale of the Prosperous Consumer-US Retail Sales

American consumers asserted the right to spend in a grand fashion in March boosting retail sales to the fastest expansion in 18 months as the booming job market put the shutdown marked holiday season to rest.

Read more

Gold Forecast: Eyes 8-month rising trendline after weakest weekly close since December

The troy ounce of the precious metal lost around $17 this week and now looks to record its lowest weekly close since the end of December near $1275.

Gold News

majors

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •