- Mexican peso gains against the US dollar for the fourth-day in-a-row holds a positive tone. Bullish momentum is easing but still favors the peso.
- USD/MXN testing the 18.90 horizontal support, a break lower would target the uptrend line seen at 18.77; below the next horizontal support is located at 18.67.
- As long as the pair fails to recover above 19.00, the bearish bias will prevail. A rise back above 19.00 would strengthen the US dollar. The next key resistance is 19.15 (20-day moving average) followed by 19.30 (horizontal level and downtrend line). A consolidation on top of 19.30 would signal further gains for the US dollar, leaving the Mexican peso vulnerable.
USD/MXN Daily Chart
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