- 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|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.