14 Nov 2018
USD/MXN Technical Analysis: Mexican peso recovers modestly, pressure remains to the upside
- Mexican peso recovered ground against US dollar ahead of the Banxico meeting and amid a correction of the greenback against emerging-market currencies on Wednesday. Still, the bearish pressure persists.
- The rally of USD/MXN peaked at 20.59 and failed to post a daily close above 20.50, suggesting that it could consolidate around current levels and even could correct to 20.25, before bouncing back to the upside.
- A consolidation above 20.50 would clear the way to 20.75 and above, attention would turn to 20.90, the last barrier before 21.00.
- Bullish perspective for USD/MXN to remain intact while above 19.90.
USD/MXN - Daily Chart
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Overview:
Last Price: 20.3388
Daily change: -0.668%
Daily Open: 20.4755
Trends:
Daily SMA20: 19.7883
Daily SMA50: 19.2854
Daily SMA100: 19.1397
Daily SMA200: 19.1179
Levels:
Daily High: 20.594
Daily Low: 20.267
Weekly High: 20.425
Weekly Low: 19.5758
Monthly High: 20.484
Monthly Low: 18.5
Daily Fibonacci 38.2%: 20.4691
Daily Fibonacci 61.8%: 20.3919
Daily Pivot Point S1: 20.297
Daily Pivot Point S2: 20.1185
Daily Pivot Point S3: 19.97
Daily Pivot Point R1: 20.624
Daily Pivot Point R2: 20.7725
Daily Pivot Point R3: 20.951