- The pair rose for the fourth day in a row, as it continues to move at a slow phase, still looking like trading within a range despite the higher highs and higher lows.
- It found resistance at the 20-day moving average at 19.05: a consolidation of top would reinforce the upside bias, exposing 19.15. Above the next resistance is seen at 19.15 followed by 19.30.
- If it fails to hold on top of 19.00, a bearish correction seems likely. Declines should find support near 18.70 but a daily close significantly below 18.75 would signal more losses ahead. The next strong barrier is 18.45/50.
USD/MXN Daily Chart
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Spot: 19.00
Daily high: 19.05
Daily low: 18.92
Support Levels
S1: 18.80
S2: 18.70
S3: 18.50
Resistance Levels
R1: 19.05
R2: 19.15
R3: 19.30
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