USD/MXN Technical Analysis: Main trend still bearish but remains in a consolidation range at 19.00/19.20.

The pair continues to consolidate in a wide range between 19.20 and 19.00. The main trends still point to the downside.
A break under 19.00 would clear the way to more losses. The critical support is the 18.85/87 area, January low. Under that level, the pair will likely resume the downtrend with a target at 18.70.
If USD/MXN holds above 19.00 over the next sessions, another test of 19.20 seems likely. A firm break above would point to an extension of the bullish correction of the US dollar. Strong resistance levels are seen at 19.30 and 19.45.

Matías Salord FXStreet

USD/MXN Daily Chart

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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