- Analytics
- News and Tools
- Market News
- USD/MXN Price Analysis: Mexican peso continues to test the 19.80 barrier
USD/MXN Price Analysis: Mexican peso continues to test the 19.80 barrier
- USD/MXN with bearish bias while below 19.95.
- Consolidation under 19.80 points to more weakness ahead.
- Immediate resistance at 19.95 followed by 20.00; upside limited under 20.15.
The USD/MXN is rising on Monday but it moved off highs and pulled back. The pair traded momentarily above 19.90 and then dropped below 19.85, and is it looking again at the key support around 19.80.
The critical support area around 19.80 has held fine so far and triggered a rebound, but it is still exposed and being challenged. A daily close below would reinforce the bearish bias, exposing the 19.50 key level (intermediate support at 19.70).
The 19.95 has become the immediate resistance, followed by 20.00, an area that also contains the 20 and 55-day Simple Moving Average. A break higher would expose the 20.15/20.20 key resistance. A break higher would suggest more gains ahead, targeting 20.45.
USD/MXN daily chart
-638028268926843569.png)
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
