The USD/MXN pair still tumbles towards major support at 19.7002/5488 which is to hold the downside, according to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank. USD/MXN is getting ever closer to the 200-week moving average at 19.7854 “USD/MXN’s sell-off from its March high at 21.6380 has so far taken it to below the February low at 19.8822 with key support at the 19.7002/19.5488 December and January lows remaining in sight. This area we would expect to hold on the first attempt, though.” “Resistance above the March low and mid-April high at 20.2426/20.2823 can be seen along the 55-day moving average at 20.4460 with further resistance being spotted between the November 24, December and January highs at 20.6038/20.7191. Further up the 200-day moving average and February high can be seen at 20.8792/21.0483.” “Only a currently unexpected advance above the next higher 21.6380 March high would push the November high at 21.9803 to the fore. Further up sit the 22.0380 2017 peak and the 22.7011 September 2020 top at 22.7011.” 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 GBP/USD: Current run is significant but may end abruptly FX Street 2 years The USD/MXN pair still tumbles towards major support at 19.7002/5488 which is to hold the downside, according to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank. USD/MXN is getting ever closer to the 200-week moving average at 19.7854 "USD/MXN's sell-off from its March high at 21.6380 has so far taken it to below the February low at 19.8822 with key support at the 19.7002/19.5488 December and January lows remaining in sight. This area we would expect to hold on the first attempt, though." "Resistance above the March low and mid-April high at 20.2426/20.2823 can be seen along the 55-day… 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.
