- A stronger US Dollar against emerging market currencies boosted USD/MXN.
- The pair broke a key area seen at 19.30 and peaked at 19.47, highest since July 4. It pulled back but remained on top of 19.30, signaling more gains ahead. The next target is 19.50 and above the next resistance at 19.65/70.
- Bullish tone to remain intact while above 19.20/25 (uptrend line). A break lower would ease upside pressure but the overall bias (for a stronger USD) is likely to remain in place while above 18.85.
Spot: 19.35
Daily high: 19.47
Daily low: 19.15
Support Levels
S1: 19.30
S2: 19.20
S3: 18.85
Resistance Levels
R1: 19.50
R2: 19.67
R3: 19.90
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