The Mexican peso trims gains versus US dollar, heads for the highest close since March 13. Weaker US dollar drops across the board, DXY falls to three-week lows. The USD/MXN is falling for the seventh consecutive day on the back of an improvement in market sentiment and a weaker US dollar. Stock worldwide rose on Tuesday amid optimism over the reopening of the economy. In Wall Street, the Dow Jones gains 2.65% and the S&P 500 1.80%. At the same time, the US dollar is falling sharply across the board, particularly versus commodity currencies. The DXY is declining by almost 1% and it is trading below 99.00, at the lowest in three weeks. The Mexican peso rose to fresh two-month highs against the US dollar on Tuesday. The USD/MXN bottomed at 22.10 and then rebounded modestly to 22.35. As of writing, it trades at 22.20, down 1.40% for the day, about to post the lowest close since March 13. Technical outlook The bias continues to point to the downside in USD/MXN. The RSI in the daily chart is about to reach extreme oversold levels but is still moving south. No signs of a bullish correction are seen at the moment. The immediate support area is seen at 22.00/05 followed by 21.60. On the upside, 22.50 is the first resistance level and then 22.75/80 (weekly high) and 23.20. 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. View All Post By FX Street FXStreet News share Read Next GBP/USD: Bulls rocket to critical resistance area, pause for thought FX Street 3 years The Mexican peso trims gains versus US dollar, heads for the highest close since March 13. Weaker US dollar drops across the board, DXY falls to three-week lows. The USD/MXN is falling for the seventh consecutive day on the back of an improvement in market sentiment and a weaker US dollar. Stock worldwide rose on Tuesday amid optimism over the reopening of the economy. In Wall Street, the Dow Jones gains 2.65% and the S&P 500 1.80%. At the same time, the US dollar is falling sharply across the board, particularly versus commodity currencies. The DXY is declining by almost… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
