The Mexican peso rose across the board after Banxico’s meeting. USD/MXN drops on Friday for the second day in a row remains above short-term trendline. The USD/MXN is falling on Friday, is about to end the week slightly above the level it had seven days ago. Price bottomed on 20.53, and it continues to press against the 20.50/55 area that is a critical support. A consolidation under 20.50 would strengthen the Mexican peso, opening the doors for a slide to the next barrier at 20.25/30. As long as it remains above 20.50, the odds will favor more gains. On the upside, USD/MXN seems limited while below 20.80. A consolidation above 20.80 should clear the way for a test of 21.00. The next resistance levels are located at 21.10 and 21.30, which protects the medium-term barrier of 21.50. The daily chart shows mixed signs. Price is back below the 20-day SMA, and the Momentum points to the downside. The RSI is flat, and longer-term moving averages have a positive slope supporting a bullish outlook. 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 Mexico: Banxico has moved from a dovish bias to a cautious approach – BBVA FX Street 8 months The Mexican peso rose across the board after Banxico's meeting. USD/MXN drops on Friday for the second day in a row remains above short-term trendline. The USD/MXN is falling on Friday, is about to end the week slightly above the level it had seven days ago. Price bottomed on 20.53, and it continues to press against the 20.50/55 area that is a critical support. A consolidation under 20.50 would strengthen the Mexican peso, opening the doors for a slide to the next barrier at 20.25/30. As long as it remains above 20.50, the odds will favor more gains. On the… 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.
