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  • The USD/MXN bottomed at 20.15 and then bounced to the upside but remained under 20.40 all day. It was about to end flat on Thursday, offering no strong signals.  
  • The price corrected lower from the multi-month high it reached on Monday at 20.64. The trend still points to the upside, but technical indicators show no clear signals for the near future.  
  • Price could start trading on a broader consolidation range between 20.00/05 and 20.50. A break above 20.50 would expose weekly highs and strengthen the bullish case, while under 20.20 (also below the 20-day moving average) would clear the way to an extension of the correction with a potential target at 20.00/05.  

USD/MXN Daily Chart

USD/MXN

USD/MXN

Overview:
       Today Last Price:  20.2508
       Today Daily change:  64  pips
       Today Daily Open:  20.2444
Trends:
       Previous Daily SMA20:  20.2356
       Previous Daily SMA50:  19.5738
       Previous Daily SMA100:  19.2368
       Previous Daily SMA200:  19.2116
Levels:
       Previous Daily High:  20.5197
       Previous Daily Low:  20.2023
       Previous Weekly High:  20.552
       Previous Weekly Low:  20.1112
       Previous Monthly High:  20.484
       Previous Monthly Low:  18.5
       Previous Daily Fibonacci 38.2%:  20.3235
       Previous Daily Fibonacci 61.8%:  20.3984
       Previous Daily Pivot Point S1:  20.1245
       Previous Daily Pivot Point S2:  20.0047
       Previous Daily Pivot Point S3:  19.8071
       Previous Daily Pivot Point R1:  20.4419
       Previous Daily Pivot Point R2:  20.6395
       Previous Daily Pivot Point R3:  20.7594