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Forex: USD/MXN hovering over 12.3200

FXstreet.com (Barcelona) - The Mexican peso is netting a balanced week so far, currently losing some ground against its neighbor the USD after the Consumer Confidence in the Aztec economy eased a tad to 95.5 inn March from 95.4 in the previous month.

Next on tap in the MXN docket will be the March Business Confidence (Friday) and inflation figures during the same period (Tuesday 9th).

As of writing, the pair is down 0.19% at 12.3207 with the next support at 12.2600 (low Apr.2) followed by 12.2355 (low Sep.1 2011) and then 12.1394 (weekly low Aug.21 2011).
On the other hand, a break above 12.4200 (high Mar.27) would the target 12.4500 (high Mar.22) en route to 12.6440 (high Mar.11).

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