USD/MXN Technical Analysis: Remains in consolidation range with a bearish bias but...


  • The Mexican peso rallied at the beginning of the week following the suspension of US tariffs on Mexican imports. The currency consolidated most of those gains. 
  • The USD/MXN bottomed at 19.08 and then build a support at 19.10. 
  • A weekly bearish gap between 19.32 and 19.62 remains open. 

Price is holding above an uptrend line while at the same time below a key 20-day moving average. Short-term technical indicators favor the downside but with USD/MXN near the mentioned line and so far being unable to break under 19.10, the positive momentum for the peso is easing. 

A close below 19.05 would point to further losses targeting the next support at 18.90. 

On the upside, 19.25 (flat 20-day moving average) could be seen as the resistance area to break. A consolidation on top would lead to a test of the horizontal resistance at 19.30; if the USD/MXN keeps rising, there is not much resistance until 19.45. 

USD/MXN Daily Chart

USD/MXN

 

USD/MXN

Overview
Today last price 19.1437
Today Daily Change -0.0291
Today Daily Change % -0.15
Today daily open 19.1728
 
Trends
Daily SMA20 19.267
Daily SMA50 19.0923
Daily SMA100 19.1423
Daily SMA200 19.3622
Levels
Previous Daily High 19.223
Previous Daily Low 19.1023
Previous Weekly High 19.8799
Previous Weekly Low 19.4667
Previous Monthly High 19.8284
Previous Monthly Low 18.7907
Daily Fibonacci 38.2% 19.1769
Daily Fibonacci 61.8% 19.1484
Daily Pivot Point S1 19.1091
Daily Pivot Point S2 19.0453
Daily Pivot Point S3 18.9884
Daily Pivot Point R1 19.2298
Daily Pivot Point R2 19.2867
Daily Pivot Point R3 19.3505

 

 

 

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