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Forex: USD/MXN in lows around 12.2200/50

FXstreet.com (Barcelona) - The Mexican peso is gaining ground against the greenback on Friday, despite the unemployment rate in the Aztec economy ticked higher in March to 5.01% from 4.76%. The bias continues to favour the riskier assets today, giving extra support to the MXN.

As of writing, the cross is down 0.48% at 12.2146 with the next support at 12.1640 (low Apr.18) followed by 12.1467 (MA200h) and finally 12.0085 (weekly low Aug.14 2011).
On the upside, a break above 12.2590 (MA21d) would bring 12.3350 (high Apr.18) and then 12.3523 (high Apr.3).

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