Mexican peso drops sharply versus the US dollar on risk aversion. USD/MXN short-term bias starts to point to the upside. The USD/MXN is rising for the second consecutive day on Monday and reach 21.59, the highest levels since September 9. It is trading at 21.45, slightly below the 20-day moving average that stands at 21.52. A daily close above 21.65/70 would negate the current short-term bearish bias, favouring a consolidation. The next resistance is seen at 21.80/85 (horizontal level and downtrend line from April high) followed by 22.25. The Mexican peso needs to hold below 21.40/45 in order to keep the negative pressure under control 21.15/20 is the immediate support level to consider; below another test of 21.00 seems likely. USD/MXN 4-hour 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 EUR/USD Price Analysis: The pair has broken some key levels but the consolidation low remains intact FX Street 1 year Mexican peso drops sharply versus the US dollar on risk aversion. USD/MXN short-term bias starts to point to the upside. The USD/MXN is rising for the second consecutive day on Monday and reach 21.59, the highest levels since September 9. It is trading at 21.45, slightly below the 20-day moving average that stands at 21.52. A daily close above 21.65/70 would negate the current short-term bearish bias, favouring a consolidation. The next resistance is seen at 21.80/85 (horizontal level and downtrend line from April high) followed by 22.25. The Mexican peso needs to hold below 21.40/45 in order to keep… 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.
