Search ForexCrunch
  • Stronger US Dollar and risk aversion boosted the pair that broke a key short-term resistance at 19.10 and jumped toward 19.20.  
  • A close on top of 19.15 would reaffirm the bullish bias and would signal further gains with a potential target near 19.30, the next barrier. If the pair extends above the next level to watch is 19.45/50.  
  • On the flip side, a reversal back below 19.10 would point to more range trading near 19.00. If the reversal extends under 19.00, the Mexican peso will likely strengthen and a test of 18.90 seems likely. The mentioned level protects the 2019 low at 18.73.  

USD/MXN Daily Chart