Home USD/MXN Technical Analysis: Negative tone prevails despite oversold readings, January lows being tested

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USD/MXN Technical Analysis: Negative tone prevails despite oversold readings, January lows being tested

FX Street

Updated: 20 Mar. 2019 | 18:47

The USD/MXN pair continues to decline and today broke decisively below 19.00. The decline found support at 18.90 and bounced modestly.
The outlook continues to favor the decline, particularly while holding under 19.00. The lows of January at 18.87 are exposed and another test over the coming sessions seems likely. A firm break lower would target 18.70.
On the upside, any recovery below 19.20 should be seen as corrective. A close on top of 19.30 would invalidate the bearish outlook.

USD/MXN Daily Chart

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