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USD/MXN Technical Analysis: Daily close below 19.60 points to more weakness

  • The USD/MXN pair dropped further today after breaking the key support level of 19.60. The daily close below that level signals more losses, likely to test the 19.40/45 critical support area should favor a rebound if tested. The pair is standing above the 100-day moving average at 19.53; the last time price fell below was back in October. 
  • The short-term trend and technical indicators favor the downside. If the US dollar recovers, above 19.60 would ease the bearish pressure but it needs to recover on top of the 20-day moving average at 20.05/08 to signal a potential bottom. 

USDMXN Daily Chart




    Today Last Price: 19.5389
    Today Daily change: -1.1e+3 pips
    Today Daily change %: -0.554%
    Today Daily Open: 19.6478
    Previous Daily SMA20: 20.0354
    Previous Daily SMA50: 20.116
    Previous Daily SMA100: 19.5555
    Previous Daily SMA200: 19.3801
    Previous Daily High: 19.668
    Previous Daily Low: 19.642
    Previous Weekly High: 19.9718
    Previous Weekly Low: 19.607
    Previous Monthly High: 20.658
    Previous Monthly Low: 19.607
    Previous Daily Fibonacci 38.2%: 19.6519
    Previous Daily Fibonacci 61.8%: 19.6581
    Previous Daily Pivot Point S1: 19.6372
    Previous Daily Pivot Point S2: 19.6266
    Previous Daily Pivot Point S3: 19.6112
    Previous Daily Pivot Point R1: 19.6632
    Previous Daily Pivot Point R2: 19.6786
    Previous Daily Pivot Point R3: 19.6892


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