Mexican peso moves away from multi-month lows against US Dollar, gains 3% from last week low. The bearish momentum in USD/MXN eased today after a three-day slide; it found support above the 19.60, also the 50% Fibonacci retracement of the rally from 18.95 to 20.25. The correction started after the pair was capped by a long-term downtrend line that stands at 20.10. Now resistance levels are located at 19.75, followed by 19.95. A consolidation between 19.60 and 19.75 or 19.90 seems likely, before the next directional move. Only a daily close clearly below 19.60 would clear the way for a slide to 19.45/50, the next strong barrier that should offer support. 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 EUR/USD turns flat below 1.1050 as USD sell-off ends on upbeat US data FX Street 4 years Mexican peso moves away from multi-month lows against US Dollar, gains 3% from last week low. The bearish momentum in USD/MXN eased today after a three-day slide; it found support above the 19.60, also the 50% Fibonacci retracement of the rally from 18.95 to 20.25. The correction started after the pair was capped by a long-term downtrend line that stands at 20.10. Now resistance levels are located at 19.75, followed by 19.95. A consolidation between 19.60 and 19.75 or 19.90 seems likely, before the next directional move. Only a daily close clearly below 19.60 would clear the… 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.
