USD/MXN remains below 200-day MA after Trump's "Border Wall Speech"
- USD/MXN has barely moved after President Trump's border wall speech.
- President Trump stressed the need to build a border wall on the Mexico border.
The USD/MXN pair is trading in a sideways manner below the 200-day moving average (MA), having found acceptance under the long-term MA on Monday.
President Trump, while addressing the nation on the Prime Time TV, said that a barrier is absolutely critical to border security, as the Americans are hurt by uncontrolled and illegal migration. He added further that the steel wall along the Mexican border worth $5.7 billion would "very quickly pay for itself."
Trump's border rhetoric, however, has failed to move the Mexican peso. As of writing, the USD/MXN is trading largely unchanged on the day at 19.34.
That said, USD/MXN's 14-day relative strength index (RSI) is closing on oversold levels below 30.00. As a result, the bearish momentum could weaken in the short-term.
USD/MXN Technical Levels
Today Last Price: 19.3414
Today Daily change: -3.5e+2 pips
Today Daily change %: -0.182%
Today Daily Open: 19.3766
Previous Daily SMA20: 19.8197
Previous Daily SMA50: 20.0908
Previous Daily SMA100: 19.5789
Previous Daily SMA200: 19.4098
Previous Daily High: 19.4372
Previous Daily Low: 19.282
Previous Weekly High: 19.721
Previous Weekly Low: 19.3733
Previous Monthly High: 20.658
Previous Monthly Low: 19.607
Previous Daily Fibonacci 38.2%: 19.3779
Previous Daily Fibonacci 61.8%: 19.3413
Previous Daily Pivot Point S1: 19.2933
Previous Daily Pivot Point S2: 19.21
Previous Daily Pivot Point S3: 19.138
Previous Daily Pivot Point R1: 19.4486
Previous Daily Pivot Point R2: 19.5205
Previous Daily Pivot Point R3: 19.6038