In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, occasional dips in the pair are seen supported around 19.80/60. Key Quotes “USD/MXN has rallied sharply higher, the rally faltered just ahead of the 2017-2018 resistance line at 20.67. The market has peak at 20.4720 and is reacting quickly lower. Near term dips expected to find support in the 19.80-19.60 band and recover from here”. “Dips lower should remain contained by the 55 and 200 day ma at 19.12/06 as this guards the 18.4487/18.3090 support zone, made up of the November low and the January and February 2017 as well as the August 2018 troughs”. “Please note longer term that market has been building a huge triangle since 2015. This will complete on a weekly close above 20.67 and trigger a move to above the 22.04 high. Initial resistance is the 2018 high at 20.96″. 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/CAD faces resistance in the 1.3100/50 band – Scotiabank FX Street 4 years In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, occasional dips in the pair are seen supported around 19.80/60. Key Quotes "USD/MXN has rallied sharply higher, the rally faltered just ahead of the 2017-2018 resistance line at 20.67. The market has peak at 20.4720 and is reacting quickly lower. Near term dips expected to find support in the 19.80-19.60 band and recover from here". "Dips lower should remain contained by the 55 and 200 day ma at 19.12/06 as this guards the 18.4487/18.3090 support zone, made up of the November low and the January and February 2017… 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.
