Bias in the USD/MXN continues to favor the downside, despite oversold readings. In the short-term, a recovery above 19.35/40 would alleviate the pressure. The USD/MXN pair fell for the fifth-day in-a-row on Tuesday. Short-term technical indicators show extreme oversold reading, but no signals of a consolidation or correction seem strong at the moments, as the pair holds firm below the critical 19.30 level. On the flip side, 19.20 is the immediate support that is being tested and also the 100-week moving average. Below then comes an uptrend line at 19.05. On the upside, above 19.40, the bearish pressure will likely ease, and only above 19.60 the US Dollar could strengthen. USD/MXN weekly 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 Brexit: PM Johnson calls mass meeting of the 1922 committee of Conservative backbenchers FX Street 4 years Bias in the USD/MXN continues to favor the downside, despite oversold readings. In the short-term, a recovery above 19.35/40 would alleviate the pressure. The USD/MXN pair fell for the fifth-day in-a-row on Tuesday. Short-term technical indicators show extreme oversold reading, but no signals of a consolidation or correction seem strong at the moments, as the pair holds firm below the critical 19.30 level. On the flip side, 19.20 is the immediate support that is being tested and also the 100-week moving average. Below then comes an uptrend line at 19.05. On the upside, above 19.40, 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.
