Mexican peso trims losses versus US dollar, still down affected by the depreciation of the Turkish lira. USD/MXN extends rebound to the 20.80/85 resistance area. The USD/MXN is rising 0.35% on Monday after trimming gains over the last hours. The pair opened the week sharply higher on jitters created by the depreciation of the Turkish lira. Both currencies moved off lows. Last week, the USD/MXN found support at the critical area of 20.25, a horizontal level and also an uptrend. That area supports the bullish short-term outlook. A break lower would negate the perspective, pointing to a consolidation phase. While above 20.50, the USD/MXN will likely rise back to test the 20.80/85 resistance area that protects the next critical level seen at 21.00. More gains above 21.00 would see resistance at 21.10 and 21.30 before the strong barrier of 21.50. A decline over the next session under 20.50 would alleviate the dollar’s momentum. More declines in USD/MXN would need a positive tone in Wall Street. 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 US: Despite the weaker report, the pace of existing home sales remains exceptionally strong – Wells Fargo FX Street 1 year Mexican peso trims losses versus US dollar, still down affected by the depreciation of the Turkish lira. USD/MXN extends rebound to the 20.80/85 resistance area. The USD/MXN is rising 0.35% on Monday after trimming gains over the last hours. The pair opened the week sharply higher on jitters created by the depreciation of the Turkish lira. Both currencies moved off lows. Last week, the USD/MXN found support at the critical area of 20.25, a horizontal level and also an uptrend. That area supports the bullish short-term outlook. A break lower would negate the perspective, pointing to a consolidation phase. While… 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.
