The Mexican peso recovered ground on Monday and ended unchanged against the US Dollar but the chart shows the bullish pressure still remains in place. The USD/MXN pair rose from 19.70 on Thursday to 20.12 on Monday, the highest level since December. After reaching a key long-term dynamic resistance pulled back under 20.00. The reversal has been significant but not yet enough to show a change in the short-term trend. The bias still points to the upside and if it rises back above 20.00 a test of the key trendline around 20.10 seems likely. Above the next level is seen at 20.20and then 20.50. On the flip side, the two key supports might lie at 19.75 and 19.50. Below the last on the bias would start favoring the downside. The key level here comes at 18.90, a medium-term uptrend line. 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 CoinField coy on new XRP project FX Street 4 years The Mexican peso recovered ground on Monday and ended unchanged against the US Dollar but the chart shows the bullish pressure still remains in place. The USD/MXN pair rose from 19.70 on Thursday to 20.12 on Monday, the highest level since December. After reaching a key long-term dynamic resistance pulled back under 20.00. The reversal has been significant but not yet enough to show a change in the short-term trend. The bias still points to the upside and if it rises back above 20.00 a test of the key trendline around 20.10 seems likely. Above the next level… 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.
