Mexican peso rises again across the board as the rally still goes on. USD/MXN about to end the day lower but far from the lows ¿consolidation ahead? The USD/MXN rebounded during the last hours after the US dollar managed to stabilize across the board. Earlier it dropped to 18.75, the lowest level since May 1. From June’s high to July’s bottom, the pair lost 10%. During the last hours USD/MXN, bounced to the upside and climbed above 18.90. It was hovering around 18.92, down 0.75% for the day. The Mexican peso continues to receive support as president-elect Andrés Manuel López Obrador announces his government plans, so far without creating uncertainty. On Thursday it also gained momentum amid a decline of the US dollar particularly against EM currencies. A new low, but…. USD/MXN hit a new monthly low today and even ended lower. The correction from the low pushed the pair back above 18.80, a strong resistance. The rebound could point to some consolidation ahead that could take place with USD/MXN moving between 19.15/20 and 18.75/80. If the pair consolidates below 18.75, it would open the doors to more losses. Support levels could be seen at 18.70 and 18.60. On the upside, a key resistance is the 19.15 zone that also contains the 100-day moving average. A break higher would remove the bearish momentum and could lead to a test of 19.45/50. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Government spending contributing to growth – Wells Fargo FX Street 5 years Mexican peso rises again across the board as the rally still goes on. USD/MXN about to end the day lower but far from the lows ¿consolidation ahead? The USD/MXN rebounded during the last hours after the US dollar managed to stabilize across the board. Earlier it dropped to 18.75, the lowest level since May 1. From June's high to July's bottom, the pair lost 10%. During the last hours USD/MXN, bounced to the upside and climbed above 18.90. It was hovering around 18.92, down 0.75% for the day. The Mexican peso continues to receive support as president-elect Andrés Manuel López… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
