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USD/MXN Technical Analysis: Bearish correction losses strength, back to the range

  • The USD/MXN bottomed yesterday at 19.98 and then pulled back. Today recovered further and reached 20.33. Near the end of the US session stands around 20.30, marginally below the 20-day moving average. 
  • The intraday bullish tone eased after being unable to break above 20.35 and also after pulling back under the 20-day moving average. A confirmation significantly above 20.35 would signal that price could continue to move sideways, including a test of 20.50. 
  • To the downside, a slide below 20.20 would increase the momentum of the Mexican peso, opening the doors for another test of 20.00. A firm break to 20.00 is needed to clear the way to more losses, with a potential target at 19.60/70. 
  • The long-term trend is bullish, but short-term signal shows a lack of strength at the moment. A weekly close above 20.50 could point to more gain while below 20.00, further losses seem more likely. 

USD/MXN Daily Chart



    Today Last Price: 20.3029
    Today Daily change %: 1.08%
    Today Daily Open: 20.085
    Previous Daily SMA20: 20.3339
    Previous Daily SMA50: 19.8668
    Previous Daily SMA100: 19.3787
    Previous Daily SMA200: 19.2898
    Previous Daily High: 20.235
    Previous Daily Low: 19.9874
    Previous Weekly High: 20.658
    Previous Weekly Low: 20.0079
    Previous Monthly High: 20.6355
    Previous Monthly Low: 19.576
    Previous Daily Fibonacci 38.2%: 20.082
    Previous Daily Fibonacci 61.8%: 20.1404
    Previous Daily Pivot Point S1: 19.9699
    Previous Daily Pivot Point S2: 19.8548
    Previous Daily Pivot Point S3: 19.7223
    Previous Daily Pivot Point R1: 20.2176
    Previous Daily Pivot Point R2: 20.3501
    Previous Daily Pivot Point R3: 20.4652




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