USD/MXN Technical Analysis: Points to a test of January lows
- The Mexican peso rose sharply on Wednesday and extended the rally on Thursday, pushing USD/MXN below 19.10 and also momentarily under 19.00. The recovery of the pair back above 19.00 adds some uncertainty, but the short-term outlook favors the downside.
- A test of the January low and the 18.85 area seems likely. Below that level, the next target is the 18.70 zone.
- The US dollar needs to hold on top of 19.00 to avoid further weakness. To open the doors to a stronger recovery needs to rise initially above 19.20 and then break 19.30, another stronger resistance and also the 20-day moving average.
USD/MXN Daily Chart
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USD/MXN
Overview:
Today Last Price: 19.0135
Today Daily change: -0.0208 pips
Today Daily change %: -0.11%
Today Daily Open: 19.0343
Trends:
Daily SMA20: 19.2931
Daily SMA50: 19.858
Daily SMA100: 19.5821
Daily SMA200: 19.4595
Levels:
Previous Daily High: 19.1953
Previous Daily Low: 19.0245
Previous Weekly High: 19.206
Previous Weekly Low: 18.8767
Previous Monthly High: 20.658
Previous Monthly Low: 19.607
Daily Fibonacci 38.2%: 19.0898
Daily Fibonacci 61.8%: 19.1301
Daily Pivot Point S1: 18.9741
Daily Pivot Point S2: 18.9139
Daily Pivot Point S3: 18.8033
Daily Pivot Point R1: 19.1449
Daily Pivot Point R2: 19.2555
Daily Pivot Point R3: 19.3157