Mexican peso rises versus US dollar on Thursday, boosted by a recovery in Wall Street. USD/MXN bias remains bullish; consolidation persists in the short term. The USD/MXN is trading around 20.80, as it continues to move sideways in the short-term, with a bullish bias. The pair again failed to break above 21.00 and pulled back. The 21.00 mark is a critical resistance, and a consolidation above 21.10 would target the 21.50 level. The outlook is USD/MXN still favors the upside. It needs to break above 21.00 to open the doors to more gains. The strong immediate support stands at 20.50; a decline below would lead to an extension of the correction. The critical support for the upside bias is seen at 20.12/18, the convergence of an uptrend line, horizontal support and the 55-day simple moving average. The mentioned average just crossed  the 100-day moving average, a bullish sign. 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 USD/INR: Indian rupee rises for the fourth consecutive day FX Street 1 year Mexican peso rises versus US dollar on Thursday, boosted by a recovery in Wall Street. USD/MXN bias remains bullish; consolidation persists in the short term. The USD/MXN is trading around 20.80, as it continues to move sideways in the short-term, with a bullish bias. The pair again failed to break above 21.00 and pulled back. The 21.00 mark is a critical resistance, and a consolidation above 21.10 would target the 21.50 level. The outlook is USD/MXN still favors the upside. It needs to break above 21.00 to open the doors to more gains. The strong immediate support stands at 20.50;… 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.
