#USDMXN @ 19.9852 with bearish bias in the very short-term, in range. (Pivot Orderbook analysis)
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- USD/MXN with bearish bias in the very short-term, in range.
- Next support below 19.90 at 19.80.
- Critical resistance around 20.20/25.
The pair currently trades last at 19.9852.
The previous day high was 20.2069 while the previous day low was 19.9258. The daily 38.2% Fib levels comes at 20.0332, expected to provide resistance. Similarly, the daily 61.8% fib level is at 20.0995, expected to provide resistance.
The USD/MXN is rising modestly on Monday as it remains trading near the weekly low it hit at the beginning of the week at 19.91. Momentum and technical indicators point to the downside in the very short-term. A break under 19.90 would expose the next support area at 19.80.
Since mid-August USD/MXN is moving sideways in a range between 19.80 and 20.25. The 19.80 should hold if tested in the near-term, offering a rebound. A firm break lower would weaken the dollar further, exposing 19.72.
On the upside, the immediate resistance stands 20.02 (20-day Simple Moving Average) followed by 20.17. A daily close above 20.25, would change the short-term bias to neutral/bullish and should open the doors to more gains, targeting initially the 20.45 zone.
Technical Levels: Supports and Resistances
USDMXN currently trading at 19.9726 at the time of writing. Pair opened at 19.9485 and is trading with a change of 0.12 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 19.9726 |
| 1 | Today Daily Change | 0.0241 |
| 2 | Today Daily Change % | 0.1200 |
| 3 | Today daily open | 19.9485 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 20.0368, 50 SMA 20.2895, 100 SMA @ 20.1677 and 200 SMA @ 20.36.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 20.0368 |
| 1 | Daily SMA50 | 20.2895 |
| 2 | Daily SMA100 | 20.1677 |
| 3 | Daily SMA200 | 20.3600 |
The previous day high was 20.2069 while the previous day low was 19.9258. The daily 38.2% Fib levels comes at 20.0332, expected to provide resistance. Similarly, the daily 61.8% fib level is at 20.0995, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 19.8473, 19.7461, 19.5663
- Pivot resistance is noted at 20.1283, 20.3081, 20.4093
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 20.2069 |
| Previous Daily Low | 19.9258 |
| Previous Weekly High | 20.2946 |
| Previous Weekly Low | 19.9114 |
| Previous Monthly High | 20.8261 |
| Previous Monthly Low | 19.8019 |
| Daily Fibonacci 38.2% | 20.0332 |
| Daily Fibonacci 61.8% | 20.0995 |
| Daily Pivot Point S1 | 19.8473 |
| Daily Pivot Point S2 | 19.7461 |
| Daily Pivot Point S3 | 19.5663 |
| Daily Pivot Point R1 | 20.1283 |
| Daily Pivot Point R2 | 20.3081 |
| Daily Pivot Point R3 | 20.4093 |
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