- 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.
|Today last price||19.1437|
|Today Daily Change||-0.0291|
|Today Daily Change %||-0.15|
|Today daily open||19.1728|
|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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