Mexican peso drops after reaching multi-month highs versus dollar. USD/MXN bearish bias to persist while below 20.70/75 The USD/MXN reached on Wednesday a new ten-month low at 19.55, and on Thursday it is rising, trading back above 19.70, alleviating the bearish pressure. The main trend continues to favor the downside in USD/MXN, and the next target and strong support is located at 19.45/50. A break lower would clear the way to 19.30. On the upside, the immediate resistance is seen at 19.92 followed by the 20.20 zone. A firm break above 20.20 would suggest more gains ahead for the dollar. The negative perspective will remain in place as long as price holds below an eight-month downtrend line and the 100-day moving average, both at the 20.70/75 area. 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 AUD/NZD Price Analysis: Is the rally over for the Aussie? FX Street 2 years Mexican peso drops after reaching multi-month highs versus dollar. USD/MXN bearish bias to persist while below 20.70/75 The USD/MXN reached on Wednesday a new ten-month low at 19.55, and on Thursday it is rising, trading back above 19.70, alleviating the bearish pressure. The main trend continues to favor the downside in USD/MXN, and the next target and strong support is located at 19.45/50. A break lower would clear the way to 19.30. On the upside, the immediate resistance is seen at 19.92 followed by the 20.20 zone. A firm break above 20.20 would suggest more gains ahead for the dollar.… 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.
