Home USD/MXN Technical Analysis: Dollar jumps to test key resistance at 19.20
FXStreet News

USD/MXN Technical Analysis: Dollar jumps to test key resistance at 19.20

  • The Mexican peso is among the weakest currencies today, affected by the two-notch downgrade of Pemex and ahead of the FOMC meeting.  
  • The USD/MXN holds a bullish tone and is testing the 19.20 area: a consolidation on top would open the doors to more gains, targeting 19.30 and then 19.45.  
  • The 19.20 zone is the neckline of a potential double bottom seen at 18.85/90 (Jan 16, 17 & 20 low) and also the 21-day moving average.
  • On the downside, a slide back below 19.00 would remove the positive short-term momentum, exposing the 18.85/87 strong support level. A break lower would clear the way for a slide to 18.70.  

USD/MXN Daily Chart

USD/MXN

 

USD/MXN

Overview:
       Today Last Price:  19.1458
       Today Daily change:  0.1328  pips
       Today Daily change %:  0.70%
       Today Daily Open:  19.013
Trends:
       Daily SMA20:  19.1645
       Daily SMA50:  19.756
       Daily SMA100:  19.5731
       Daily SMA200:  19.4697
Levels:
       Previous Daily High:  19.0668
       Previous Daily Low:  18.965
       Previous Weekly High:  19.2421
       Previous Weekly Low:  18.8812
       Previous Monthly High:  20.658
       Previous Monthly Low:  19.607
       Daily Fibonacci 38.2%:  19.0039
       Daily Fibonacci 61.8%:  19.0279
       Daily Pivot Point S1:  18.963
       Daily Pivot Point S2:  18.913
       Daily Pivot Point S3:  18.8611
       Daily Pivot Point R1:  19.0649
       Daily Pivot Point R2:  19.1168
       Daily Pivot Point R3:  19.1668

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.