#USDMXN @ 19.3239 Mexican peso firm again versus US Dollar. (Pivot Orderbook analysis)
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
- Mexican peso firm again versus US Dollar.
- USDMXN holds bearish bias, unable to recover 19.50.
- Strong support at 19.30 prevails, for now.
The pair currently trades last at 19.3239.
The previous day high was 19.4723 while the previous day low was 19.2497. The daily 38.2% Fib levels comes at 19.3873, expected to provide resistance. Similarly, the daily 61.8% fib level is at 19.3347, expected to provide resistance.
The USDMXN is falling modestly on Wednesday as the US Dollar remains weak across the board amid expectations of a less aggressive Federal Reserve. The pair remains near the lowest levels since March 2020. It bottomed at 19.28, and it is hovering around 19.30.
On Tuesday, the USDMXN peaked at 19.47 and then pulled back. The rebounds of the US Dollar continue to be limited, unable to reclaim the 19.50 zone. A daily close above 19.60 would alleviate the bearish pressure.
The Mexican peso is testing the 19.25/30 critical support in the short-term. A daily close below would open the doors to more losses with an in initial target at 19.15 and the next key support at 19.00/05. The RSI remains slightly above the 30, while Momentum is turning south again.
Technical Levels: Supports and Resistances
USDMXN currently trading at 19.3041 at the time of writing. Pair opened at 19.373 and is trading with a change of -0.36 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 19.3041 |
| 1 | Today Daily Change | -0.0689 |
| 2 | Today Daily Change % | -0.3600 |
| 3 | Today daily open | 19.3730 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 19.6994, 50 SMA 19.9086, 100 SMA @ 20.0997 and 200 SMA @ 20.149.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 19.6994 |
| 1 | Daily SMA50 | 19.9086 |
| 2 | Daily SMA100 | 20.0997 |
| 3 | Daily SMA200 | 20.1490 |
The previous day high was 19.4723 while the previous day low was 19.2497. The daily 38.2% Fib levels comes at 19.3873, expected to provide resistance. Similarly, the daily 61.8% fib level is at 19.3347, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 19.2577, 19.1424, 19.0351
- Pivot resistance is noted at 19.4803, 19.5876, 19.7029
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 19.4723 |
| Previous Daily Low | 19.2497 |
| Previous Weekly High | 19.6321 |
| Previous Weekly Low | 19.2648 |
| Previous Monthly High | 20.1770 |
| Previous Monthly Low | 19.7850 |
| Daily Fibonacci 38.2% | 19.3873 |
| Daily Fibonacci 61.8% | 19.3347 |
| Daily Pivot Point S1 | 19.2577 |
| Daily Pivot Point S2 | 19.1424 |
| Daily Pivot Point S3 | 19.0351 |
| Daily Pivot Point R1 | 19.4803 |
| Daily Pivot Point R2 | 19.5876 |
| Daily Pivot Point R3 | 19.7029 |
[/s2If]
Join Our Telegram Group
