- The USD/MXN pair is moving sideways around the 20-day moving average, in a higher range than the one that prevailed days ago. The move to the upside was capped by 19.20 and the greenback was unable to hold on top of 19.05.
- A consolidation above 19.05 would point to further gains and a test of 19.20. The next support levels are seen at 19.30 and 19.45.
- While on the downside, a slide under 18.90 would reiforced the bearish outlook and could point to another test of the strong support located at YTD lows at 18.73/74.
- On a long-term view, the pair continues to move in a triangle, near the key support area seen at 18.60.
USD/MXN Daily Chart
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