Home USD/MXN Technical Analysis: Bearish correction losses strength, back to the range
FXStreet News

USD/MXN Technical Analysis: Bearish correction losses strength, back to the range

  • The USD/MXN bottomed yesterday at 19.98 and then pulled back. Today recovered further and reached 20.33. Near the end of the US session stands around 20.30, marginally below the 20-day moving average.  
  • The intraday bullish tone eased after being unable to break above 20.35 and also after pulling back under the 20-day moving average. A confirmation significantly above 20.35 would signal that price could continue to move sideways, including a test of 20.50.  
  • To the downside, a slide below 20.20 would increase the momentum of the Mexican peso, opening the doors for another test of 20.00. A firm break to 20.00 is needed to clear the way to more losses, with a potential target at 19.60/70.  
  • The long-term trend is bullish, but short-term signal shows a lack of strength at the moment. A weekly close above 20.50 could point to more gain while below 20.00, further losses seem more likely.  

USD/MXN Daily Chart

USD/MXN

USD/MXN

Overview:
       Today Last Price:  20.3029
       Today Daily change %:  1.08%
       Today Daily Open:  20.085
Trends:
       Previous Daily SMA20:  20.3339
       Previous Daily SMA50:  19.8668
       Previous Daily SMA100:  19.3787
       Previous Daily SMA200:  19.2898
Levels:
       Previous Daily High:  20.235
       Previous Daily Low:  19.9874
       Previous Weekly High:  20.658
       Previous Weekly Low:  20.0079
       Previous Monthly High:  20.6355
       Previous Monthly Low:  19.576
       Previous Daily Fibonacci 38.2%:  20.082
       Previous Daily Fibonacci 61.8%:  20.1404
       Previous Daily Pivot Point S1:  19.9699
       Previous Daily Pivot Point S2:  19.8548
       Previous Daily Pivot Point S3:  19.7223
       Previous Daily Pivot Point R1:  20.2176
       Previous Daily Pivot Point R2:  20.3501
       Previous Daily Pivot Point R3:  20.4652

 

 

 

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.