- The US dollar is rising sharply again (like Friday) against emerging market currencies, including the Mexican peso.
- The USD/MNX jumped above 19.30 and also on top of the 20-day moving average and an uptrend line.
- A consolidating on top of 19.30 would signal more gains ahead, with a possible target at 19.45. If the rally extends above attention would turn to the 19.60 area.
- The rally of more than 3% from last week lows could be overextended, so some consolidation seems likely before another leg higher while supported above 19.25.
- On the flip side, a retreat back below 19.15 would change the current bullish tone, while a close under 19.00 could expose 18.85 and 2019 lows.
USD/MXN Daily Chart
-636893027367591230.png)
Share
