Mexican peso gained more than 4% against the US dollar, having the best week in years. Leftist president-elect Andrés Manuel López Obrador’s tone calmed investors and boosted the currency. The Mexican peso was the top performer over the week among the most-traded currencies, supported by easing fears about López Obrador policies. USD/MXN rose modestly on Monday and even reached 20.20; since then lost 5.75%. On Friday the pair bottomed at 19.03, the lowest since early May. The area above 19.00 capped the decline and it was about to end the week hovering around 19.05/10. From last month’s highs, USD/MXN fell 9.10%. Back then the currency approached 21.00 on a sharp rally that contributed to the decision of the Bank of Mexico to raise interest rates to 7.75%, the highest level since 2009. Yesterday, the minutes of that meeting showed that Banxico could raise rates further. The central bank acknowledged a deterioration in the inflation outlook. The recent appreciation of the peso is likely to keep Banxico out of the trigger for the moment. USD/MXN Levels to watch The area around 18.95/19.00 is a key support and if the pair holds on top a correction seems likely. If it breaks lower, targets might be located at 18.75 and 18.60. To the upside, resistance levels might be seen at 19.15, 19.30 and 19.45.  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 Technical Analysis: Cable ending Friday with bull spike to weekly highs near 1.3300 FX Street 4 years Mexican peso gained more than 4% against the US dollar, having the best week in years. Leftist president-elect Andrés Manuel López Obrador's tone calmed investors and boosted the currency. The Mexican peso was the top performer over the week among the most-traded currencies, supported by easing fears about López Obrador policies. USD/MXN rose modestly on Monday and even reached 20.20; since then lost 5.75%. On Friday the pair bottomed at 19.03, the lowest since early May. The area above 19.00 capped the decline and it was about to end the week hovering around 19.05/10. From last month's highs, USD/MXN fell… Top 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.