USD/MXN Technical Analysis: Dollar holds above 19.20 and could test again 19.45

The Mexican peso failed today to break the 19.20 support area. USD/MXN bottomed at 19.19 and turned to the upside.
It is moving in a new higher range between 19.20 and 19.45, with a bullish bias as price holds above the 20-day moving average. The US dollar needs to break and hold on top of 19.45 to clear the way to more gains, targeting 19.60.
On the flip side, the critical short-term support is seen at 19.20, below the pair is likely to test the uptrend line and the mentioned trends lines. A close below 19.05 would point to more losses.
Overall, the bias points to the upside while above 19.20, but the greenback is losing strength.

Matías Salord FXStreet

USD/MXN Daily Chart

USD/MXN

Overview:
    Today Last Price: 19.2444
    Today Daily change: -0.0120 pips
    Today Daily change %: -0.06%
    Today Daily Open: 19.2564
Trends:
    Daily SMA20: 19.133
    Daily SMA50: 19.4409
    Daily SMA100: 19.614
    Daily SMA200: 19.4759
Levels:
    Previous Daily High: 19.4178
    Previous Daily Low: 19.2147
    Previous Weekly High: 19.4726
    Previous Weekly Low: 19.0612
    Previous Monthly High: 19.721
    Previous Monthly Low: 18.8767
    Daily Fibonacci 38.2%: 19.2923
    Daily Fibonacci 61.8%: 19.3402
    Daily Pivot Point S1: 19.1748
    Daily Pivot Point S2: 19.0932
    Daily Pivot Point S3: 18.9717
    Daily Pivot Point R1: 19.3779
    Daily Pivot Point R2: 19.4995
    Daily Pivot Point R3: 19.5811

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.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.