OctaFX | OctaFX Forex Broker
Open trading account
Back

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

USD/MXN

 

USD/MXN

Overview:
    Today Last Price: 19.5389
    Today Daily change: -1.1e+3 pips
    Today Daily change %: -0.554%
    Today Daily Open: 19.6478
Trends:
    Previous Daily SMA20: 20.0354
    Previous Daily SMA50: 20.116
    Previous Daily SMA100: 19.5555
    Previous Daily SMA200: 19.3801
Levels:
    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

 

USD/MXN extends losses below 19.60, to lowest since October

The Mexican peso is rising against the US dollar for the fourth trading day in-a-row. USD/MXN broke below 19.60, a critical support levels and dropped
Read more Previous

AUD/USD remains on track to post its lowest daily close in nearly 3 years around 0.70

The AUD/USD pair broke below the critical 0.70 mark on Wednesday and slumped to its lowest level since January 2016 at 0.6982 before staging a modest
Read more Next
Start livechat