USD/MXN Technical Analysis: Mexican peso remains strong and testing 19.00
- The USD/MXN continues to decline despite some extreme readings. Currently testing the 18.85/19.00 support area: a break lower would clear the way for a slide to the next support at 18.85 followed by the strong 18.70.
- The daily chart shows the RSI below 30 for the first time since 2012, showing how far has the Mexican peso rallied.
- A modest recovery of the US dollar should be seen as normal. It could extend to 19.40 without changing the bearish bias.
USD/MXN Daily Chart
- The weekly chart shows price testing a long-term trendline. A close significantly below the current level would point to further weakness while if it holds on top, a rebound could take place during the next weeks.
- USD/MXN Weekly Chart
Today Last Price: 18.9626
Today Daily change: -4.1e+2 pips
Today Daily change %: -0.217%
Today Daily Open: 19.0039
Previous Daily SMA20: 19.5562
Previous Daily SMA50: 19.9985
Previous Daily SMA100: 19.5892
Previous Daily SMA200: 19.4316
Previous Daily High: 19.0889
Previous Daily Low: 18.952
Previous Weekly High: 19.4765
Previous Weekly Low: 19.0597
Previous Monthly High: 20.658
Previous Monthly Low: 19.607
Previous Daily Fibonacci 38.2%: 19.0043
Previous Daily Fibonacci 61.8%: 19.0366
Previous Daily Pivot Point S1: 18.941
Previous Daily Pivot Point S2: 18.878
Previous Daily Pivot Point S3: 18.804
Previous Daily Pivot Point R1: 19.0779
Previous Daily Pivot Point R2: 19.1519
Previous Daily Pivot Point R3: 19.2148