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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

USD/MXN

Overview:
    Today Last Price: 19.3414
    Today Daily change: -3.5e+2 pips
    Today Daily change %: -0.182%
    Today Daily Open: 19.3766
Trends:
    Previous Daily SMA20: 19.8197
    Previous Daily SMA50: 20.0908
    Previous Daily SMA100: 19.5789
    Previous Daily SMA200: 19.4098
Levels:
    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

 

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