Mexican peso holds positive bias versus the US dollar, could rise further. USD/MXN is testing the 21.90 support area, more losses seen below. The USD/MXN pair reached on Wednesday at 21.84, the lowest level since mid-June and then it rose above 22.00. Despite gaining ground, the bearish bias remains intact so far. A consolidation under 21.90 is needed to clear the way to more losses in USD/MXN, targeting the 21.50 area. The next strong support is around 21.45 that should limit the decline, favouring a rebound. On the upside, the immediate resistance is located at 22.20/25. Above attention would turn to the key 22.45/22.55 area. A daily close above 22.55 would negate the bearish bias and would suggest more gains ahead. In the mentioned area the 20 and 55-day moving averages are seen and also a downtrend line. If the price holds above, a test of 22.90 seems likely. USD/MXN daily chart 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 UK: Unemployment will undoubtedly rise in next few months – Rabobank FX Street 3 years Mexican peso holds positive bias versus the US dollar, could rise further. USD/MXN is testing the 21.90 support area, more losses seen below. The USD/MXN pair reached on Wednesday at 21.84, the lowest level since mid-June and then it rose above 22.00. Despite gaining ground, the bearish bias remains intact so far. A consolidation under 21.90 is needed to clear the way to more losses in USD/MXN, targeting the 21.50 area. The next strong support is around 21.45 that should limit the decline, favouring a rebound. On the upside, the immediate resistance is located at 22.20/25. Above attention would turn… 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.
