#USDMXN @ 19.9472 fails to break critical resistance at 20.25. (Pivot Orderbook analysis)
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- USD/MXN fails to break critical resistance at 20.25.
- Below 20.00, next strong support stands at 19.80.
The pair currently trades last at 19.9472.
The previous day high was 20.2946 while the previous day low was 20.128. The daily 38.2% Fib levels comes at 20.2309, expected to provide resistance. Similarly, the daily 61.8% fib level is at 20.1916, expected to provide resistance.
The USD/MXN is falling sharply on Friday, amid a broad-based decline of the US Dollar. The decline of the pair takes place after being unable to break a key resistance area around 20.25.
So far, USD/MXN bottomed at 19.92 and is it about to test the 19.90 short-term support. Technical indicators favor the downside, with RSI turning shout, like Momentum which still remains above 100. Price is back under the 20-day Simple Moving Average.
Since mid-August, the pair is moving sideways in a range between 19.80 and 20.25. If reached, the 19.80 zone is likely to offer a rebound. A break lower, would point to the next support around 19.65.
The 20.25 has become critical to the upside. A break above should clear the way to more gains, targeting initially the 20.45 zone.
Technical Levels: Supports and Resistances
USDMXN currently trading at 19.9474 at the time of writing. Pair opened at 20.1809 and is trading with a change of -1.16 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 19.9474 |
| 1 | Today Daily Change | -0.2335 |
| 2 | Today Daily Change % | -1.1600 |
| 3 | Today daily open | 20.1809 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 20.0589, 50 SMA 20.2878, 100 SMA @ 20.1676 and 200 SMA @ 20.37.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 20.0589 |
| 1 | Daily SMA50 | 20.2878 |
| 2 | Daily SMA100 | 20.1676 |
| 3 | Daily SMA200 | 20.3700 |
The previous day high was 20.2946 while the previous day low was 20.128. The daily 38.2% Fib levels comes at 20.2309, expected to provide resistance. Similarly, the daily 61.8% fib level is at 20.1916, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 20.1077, 20.0346, 19.9412
- Pivot resistance is noted at 20.2743, 20.3677, 20.4409
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 20.2946 |
| Previous Daily Low | 20.1280 |
| Previous Weekly High | 20.2483 |
| Previous Weekly Low | 19.8495 |
| Previous Monthly High | 20.8261 |
| Previous Monthly Low | 19.8019 |
| Daily Fibonacci 38.2% | 20.2309 |
| Daily Fibonacci 61.8% | 20.1916 |
| Daily Pivot Point S1 | 20.1077 |
| Daily Pivot Point S2 | 20.0346 |
| Daily Pivot Point S3 | 19.9412 |
| Daily Pivot Point R1 | 20.2743 |
| Daily Pivot Point R2 | 20.3677 |
| Daily Pivot Point R3 | 20.4409 |
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