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- USD/MXN Price Analysis: Around 20.00, without clear signs
USD/MXN Price Analysis: Around 20.00, without clear signs
- USD/MXN moves sideways around a flat 20-day SMA.
- Price offers no clear signs, likely to remain between major range of 19.80/20.20.
- Break above 20.25 to open the doors to more gains.
The USD/MXN is falling modestly on Wednesday and is approaching the 20.00 level. On Tuesday the pair peaked at 20.11 before pulling back toward 20.00. In the short term it is moving between 19.95 and 20.15.
Technical indicators offer no clear signs, affected by price action over the last two weeks. Momentum and RSI are flat around midlines. Also key Simple Moving Averages are flat.
An interim support emerges at 19.95. A break lower would target 19.90 and below the 19.80 critical support area. A break lower would point to an extension to the downside.
On the upside, at 20.17 a resistance level is seen but only a clear break of 20.20 should strengthen the outlook for the US dollar. A daily close above 20.30 would confirm the break, exposing the next resistance located at 20.45.
USD/MXN daily chart
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