Mexican peso recovers modestly against the US dollar; technicals still show it vulnerable. A decline across the board of the greenback and higher crude oil prices kept USD/MXN below 19.30. The USD/MXN broke yesterday a multi-day range above 19.15 and jumped to 19.32, reaching the highest level in a month. Today pulled back to 19.20 and rebounded back above 19.25. As of writing trades at 19.26, marginally lower for the day and close to the 19.30 zone. The improvement in the tone around financial markets helped the Mexican peso. “There is a positive tone on the financial markets after the announcement from US lawmakers of a potential deal that includes some funding for the border. This has somewhat allayed fears over another partial government shutdown ahead of this Friday’s deadline. Moreover, there is a positive sentiment on the US-China trade relationship ahead of the resumption of high-level talks later in the week. On another front, Brexit negotiations continued to be uncertain“, said BBVA analysts. US President Trump just said he was “not happy” with the border security deal but so far, did not mention whether he would veto it. BBVA analysts added that “Latam countries benefited the most from the rise in crude oil prices (reaching levels above $62 per barrel) due to reports showing a potential additional cut in crude oil production by Saudi Arabia“. The Brazilian real is so far the best performer. The WTI barrel is up 2.05% at $53.50. USD/MXN Levels to watch After breaking yesterday the key 19.20 and after completing a pullback to that level today, the USD/MXN appears to be ready for a test of 19.30. A close above 19.30 would point to further gains, targeting 19.45. The bias points to the upside but a slide significantly back below 19.20 would weaken the US dollar and could lead to a test of 19.00. The key support below is the 18.85/87 zone (January lows). 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 Western Union gets ready for cryptocurrencies: XRP and Ripple solutions trials on track FX Street 3 years Mexican peso recovers modestly against the US dollar; technicals still show it vulnerable. A decline across the board of the greenback and higher crude oil prices kept USD/MXN below 19.30. The USD/MXN broke yesterday a multi-day range above 19.15 and jumped to 19.32, reaching the highest level in a month. Today pulled back to 19.20 and rebounded back above 19.25. As of writing trades at 19.26, marginally lower for the day and close to the 19.30 zone. The improvement in the tone around financial markets helped the Mexican peso. "There is a positive tone on the financial… 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.