USD/MXN Technical analysis: Dollar rebounds from key technical support, MXN rally over?


  • The Mexican peso holds a bullish tone against the US Dollar, but it lost strength on Monday.
  • USD/MXN rebounds from lowest in almost three months. 

The USD/MXN pair bottomed earlier today at 19.01, the lowest intraday level since July 31, and then rebounded. It is trading around 19.10, having the best performance in four weeks. 

Price bounced to the upside near a critical support area: 19.00, and two long-term bullish trendlines. A consolidation below 19.00 would clear the way to more losses and expose 2019 lows near 18.75. 

The rebound from such a strong barrier could favor further gains ahead for the Greenback. The next resistance is located at 19.15/20 followed by the key 19.30 (horizontal level / 20-day moving average). If the pair drops back toward 19.00 before the end of the day it would suggest the Mexican peso remains strong. 

USD/MXN daily chart

USD/MXN

USD/MXN

Overview
Today last price 19.0731
Today Daily Change 0.0119
Today Daily Change % 0.06
Today daily open 19.0612
 
Trends
Daily SMA20 19.3832
Daily SMA50 19.5691
Daily SMA100 19.3807
Daily SMA200 19.2608
 
Levels
Previous Daily High 19.1455
Previous Daily Low 19.0287
Previous Weekly High 19.19
Previous Weekly Low 19.0287
Previous Monthly High 20.1651
Previous Monthly Low 19.3208
Daily Fibonacci 38.2% 19.0733
Daily Fibonacci 61.8% 19.1009
Daily Pivot Point S1 19.0114
Daily Pivot Point S2 18.9617
Daily Pivot Point S3 18.8946
Daily Pivot Point R1 19.1282
Daily Pivot Point R2 19.1953
Daily Pivot Point R3 19.245

 

 

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