Mexican peso for the third consecutive day versus the US dollar, off monthly highs. USD/MXN starting to look overbought in the very short-term but bullish on the daily chart. The USD/MXN continues to move higher. It resumed the upside after making a pullback to the 21.30 area. It is trading above 21.60 at the highest in two weeks. While the 4-hour chart is starting to show technical indicators at overbought levels (not yet signs of a correction or consolidation) the daily chart is looking more bullish every session. If the upside continues, USD/MXN will face a strong resistance area between 21.70 and 21.90, where the 20-day moving average is seen, and also a horizontal resistance and downtrend lines. A consolidation above 22.00 would clear the way to more gains. The 50-SMA at 21.98 is a potential target of the current rally. A failure at current levels should alleviate the bullish pressure of the pair. While a decline back below 21.30 would be a positive development for the Mexican peso. 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 Gold Price Analysis: After the break lower there could be a retest before the move continues FX Street 2 years Mexican peso for the third consecutive day versus the US dollar, off monthly highs. USD/MXN starting to look overbought in the very short-term but bullish on the daily chart. The USD/MXN continues to move higher. It resumed the upside after making a pullback to the 21.30 area. It is trading above 21.60 at the highest in two weeks. While the 4-hour chart is starting to show technical indicators at overbought levels (not yet signs of a correction or consolidation) the daily chart is looking more bullish every session. If the upside continues, USD/MXN will face a strong resistance area between… 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.
