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  • The bullish pressure eased on Tuesday as USD/MXN retreats more than ten cents, from near multi-month highs to the 20.00 area.  
  • The main trend is still biased to the upside, but the greenback lost strength. If the pair rises and holds on top of 20.15, it would clear the way to more gains targeting 20.20, 20.25 and 20.45.  
  • In the short-term, the correction could continue, particularly if the pair drops holds below 20.00. The next support is seen at 19.90 followed by 19.70.  

USD/MXN Daily chart