- The USD/MXN held above 19.00 after Banxico left interest rates unchanged and posted the highest close in 4 weeks. Today peaked at 19.20 before pulling back.
- The short-term tone favors the upside following the strong rebound from the relevant support area at 18.50 that started on Monday. A daily close above 19.20 is needed in order to clear the way to more gains. Above the next target is seen at 19.30 and 19.40.
- A slide back under 18.90, could weaken the outlook for the US dollar, favoring a continuation of the consolidation range between 18.70 and 19.00.
USD/MXN Daily Chart
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Spot: 19.13
Daily high: 19.20
Daily low: 18.95
Support Levels
S1: 18.95
S2: 18.70
S3: 18.50
Resistance Levels
R1: 19.20
R2: 19.30
R3: 19.45
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