OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/MXN retreats from highs

FXstreet.com (Barcelona) - The Mexican peso is now recovering some ground against the buck on Friday, after the renewed strength in the USD pushed the cross from lows around 11.93 on Thursday to today’s tops in the vicinity of 12.1500.

Poor industrial production results in the Aztec economy during March, contracting 0.3% on a monthly basis and 4.9% over the last twelve months have also collaborated in the downbeat tone surrounding MXN.

As of writing, the pair is up 0.80% at 12.09 with the immediate hurdle at 12.1574 (MA21d) followed by 12.2495 (high May 1).
On the downside, support levels align at 11.9358 (low May 9) and then 11.5240 (low Jul.29 2011).

Forex Flash: EUR/USD might be weighed by economic divergences - Commerzbank

EUR/USD is currently trading in a range of approx. 1.30-1.32, says Thu Lan Nguyen, analyst at Commerzbank and despite the recent EUR/USD drop, the analyst thinks there is currently no impulse in sight that could cause it to break out of this range "on a sustainable basis".
Read more Previous

US Apr Monthly Budget shows a $112.9B surplus, above expectations. YTD deficit declines to $488B

Read more Next
Start livechat