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



Today last price 18.8722
Today Daily Change 0.0174
Today Daily Change % 0.09
Today daily open 18.8548
Daily SMA20 19.0519
Daily SMA50 19.1696
Daily SMA100 19.4112
Daily SMA200 19.3105
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



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