USD/MXN Technical Analysis: On a consolidation range, awaiting definition

The Mexican peso remains steady against the US Dollar as last week spike was followed by a retreat.
USD/MXN was rejected from above 19.30 and pulled back, reinforzing the current range.

Matías Salord FXStreet

The USD/MXN is moving sideways in range within another wider range. The key support level is seen at the 18.90 zone. A break lower would break the lower limit of the range, targeting 2019 lows at 18.75.
On the upside, the immediate resistance is 19.10 (upper limit of the small range) and a consolidation on top would strengthen the US Dollar.
The critical area to the upside is 19.25/30: a daily close on top would signal an extension toward 19.50.

USD/MXN Daily Chart

USD/MXN

Overview
Today last price	19.072
Today Daily Change	0.0427
Today Daily Change %	0.22
Today daily open	19.0293

Trends
Daily SMA20	19.0776
Daily SMA50	19.1623
Daily SMA100	19.1222
Daily SMA200	19.3811

Levels
Previous Daily High	19.049
Previous Daily Low	18.9261
Previous Weekly High	19.125
Previous Weekly Low	18.9215
Previous Monthly High	19.8799
Previous Monthly Low	18.8932
Daily Fibonacci 38.2%	19.0021
Daily Fibonacci 61.8%	18.9731
Daily Pivot Point S1	18.9539
Daily Pivot Point S2	18.8785
Daily Pivot Point S3	18.831
Daily Pivot Point R1	19.0769
Daily Pivot Point R2	19.1244
Daily Pivot Point R3	19.1998

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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