USD/MXN Technical Analysis: Outlook for Mexican peso improves after recovery from 5-month lows

The USD/MXN hit earlier today at 20.65, the highest level since June but then pulled back making a reversal. The momentum indicator turned to the downside and price dropped to test the 20-day moving average, showing lack of strength so far for a move above 20.65.
A daily close above 20.50 could reinforce the bullish trend, but a breakout on top of 20.65 is needed to open the doors to further gains.
After today’s reversal and the failure at 20.60, the Mexican peso could recover further, particularity if the pair drops firmly under 20.35 (20-day moving average). The next support to watch is 20.20; below the 20.00 area would be exposed.
The main trend still points to the upside in USD/MXN, but the US dollar positive tone in the short-term eased after today’s reversal, and now the bias is skewed toward an extension of the bearish correction.

Matías Salord FXStreet

USD/MXN Daily Chart

USD/MXN

Overview:
    Today Last Price: 20.3748
    Today Daily change %: -0.657%
    Today Daily Open: 20.5096
Trends:
    Previous Daily SMA20: 20.349
    Previous Daily SMA50: 19.724
    Previous Daily SMA100: 19.3117
    Previous Daily SMA200: 19.2546
Levels:
    Previous Daily High: 20.6183
    Previous Daily Low: 20.417
    Previous Weekly High: 20.6355
    Previous Weekly Low: 20.156
    Previous Monthly High: 20.6355
    Previous Monthly Low: 19.576
    Previous Daily Fibonacci 38.2%: 20.4939
    Previous Daily Fibonacci 61.8%: 20.5414
    Previous Daily Pivot Point S1: 20.4117
    Previous Daily Pivot Point S2: 20.3137
    Previous Daily Pivot Point S3: 20.2103
    Previous Daily Pivot Point R1: 20.613
    Previous Daily Pivot Point R2: 20.7163
    Previous Daily Pivot Point R3: 20.8143

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 ticks higher to near 1.1800 ahead of German inflation data

EUR/USD trades marginally higher to near 1.1800 in the European session on Friday, helped by renewed US Dollar weakness. Attention now turns toward the release of the preliminary inflation data for February from Germany and its major states during the day.

GBP/USD struggles near 1.3500 amid UK political drama, BoE easing bias

GBP/USD struggles to build on the overnight modest bounce from the weekly low and oscillates in a narrow band near 1.3500 in European trading on Friday. The Gorton and Denton by-election, held on February 26, has become a focal point of political drama in the UK, along with the Bank of England (BoE) easing expectations, acts as a headwind for the British Pound and the GBP/USD pair.

Gold sticks to positive bias as safe-haven demand persists; $5,200 holds the key for bulls

Gold trades with positive bias for the third straight day on Friday, with bulls still awaiting sustained strength and acceptance above the $5,200 mark before positioning for any further gains. Geopolitical risks remain in play amid a large US naval and air power buildup in the Middle East.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.