USD/MXN Technical Analysis: Moving between two key levels
- The pair rebounded on Friday from a key resistance and today extended the recovery. The short-term trend is not clear.
- The critical area to the downside is seen at 18.85/87, it is the low of the previous two weeks and also where an uptrend line stands at the moment. A break lower will likely trigger more losses with a potential target at 18.70, below the next support is 18.50.
- USD/MXN could rise further, but as long as it remains under 19.20, gains would be limited. The 19.20 zone is a strong resistance, and it also converges with the 20-day moving average. A daily close on top would add momentum for a strong bullish correction with targets at 19.30 and 19.45.
USD/MXN Daily Chart
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USD/MXN
Overview:
Today Last Price: 19.0344
Today Daily change: 0.0513 pips
Today Daily change %: 0.27%
Today Daily Open: 18.9831
Trends:
Daily SMA20: 19.2268
Daily SMA50: 19.8098
Daily SMA100: 19.5772
Daily SMA200: 19.4669
Levels:
Previous Daily High: 19.035
Previous Daily Low: 18.8812
Previous Weekly High: 19.2421
Previous Weekly Low: 18.8812
Previous Monthly High: 20.658
Previous Monthly Low: 19.607
Daily Fibonacci 38.2%: 18.94
Daily Fibonacci 61.8%: 18.9763
Daily Pivot Point S1: 18.8979
Daily Pivot Point S2: 18.8127
Daily Pivot Point S3: 18.7441
Daily Pivot Point R1: 19.0517
Daily Pivot Point R2: 19.1202
Daily Pivot Point R3: 19.2054