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USD/MXN testing lows near 13.5500

FXStreet (Edinburgh) - The softness in the greenback is now dragging USD/MXN to the area of session lows around 13.5500 on Tuesday.

USD/MXN softer post-data

The US dollar remains unable to pick up pace today in spite of better-than-expected Producer Prices in the US economy during October, posting an annualized advance of 1.5%. The pair is navigating the lower band of the intraday range so far, immersed in the broader correction lower from more than 2-year highs near 13.700 (November 4th), levels last seen in July 2012. Ahead in the week the FOMC minutes will be the next major risk event for the pair, followed by US inflation figures tracked by the CPI and Mexican Q3 GDP and September’s Retail Sales.

USD/MXN levels to consider

At the moment the pair is down 0.26% at 13.5448 with the next support at 13.5089 (61.8% of 13.4054-13.6795) and then 13.4950 (low Nov.14). On the upside, a breakout of 13.5995 (high Nov.17) would expose 13.6380 (high Nov.14).

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