- The pair continues to consolidate near monthly highs. The bullish tone eased but the trend still points to the upside.
- A consolidation on top of 20.50 would open the doors to more gains targeting 20.65/70 and above 20.90.
- A decline under 19.90, could signal the US dollar peaked in the short-term. Before, at 20.05/10 the 20-day moving average could offer support.
USD/MXN Daily Chart
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- Price near a key long-term resistance level seen around 20.70. A weekly close on top, would reinforce the bullish bias.
- On the flip side, strong supports lie at 19.80/90 and 19.40.
USD/MXN Weekly Chart
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