#USDMXN @ 20.3632 is breaking a range to the upside, looking to more gains. (Pivot Orderbook analysis)
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- USD/MXN is breaking a range to the upside, looking to more gains.
- Next target seen around 20.45 and then 20.70.
- Decline back below 20.20 should weaken the US dollar.
The pair currently trades last at 20.3632.
The previous day high was 20.2655 while the previous day low was 19.9053. The daily 38.2% Fib levels comes at 20.1279, expected to provide support. Similarly, the daily 61.8% fib level is at 20.0429, expected to provide support.
The USD/MXN is breaking above a range that held since mid-August. As long as the pair remains above 20.25 the outlook is bullish. The next target may be seen at 20.45 and above the next barrier emerges around 20.70. As of writing, it trades at fresh two-month highs at 20.37.
Basically, most technical indicators are pointing to the upside, offering bullish signs. RSI is up, not yet in overbought territory.
The bullish tone is strong. During the session, the pair pulled back many times to the 20.20/25 zone but held above. A consolidation below would alleviate the pressure and could even suggest a potential short-term top.
Technical Levels: Supports and Resistances
USDMXN currently trading at 20.3528 at the time of writing. Pair opened at 20.2096 and is trading with a change of 0.71 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 20.3528 |
| 1 | Today Daily Change | 0.1432 |
| 2 | Today Daily Change % | 0.7100 |
| 3 | Today daily open | 20.2096 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 20.0224, 50 SMA 20.156, 100 SMA @ 20.1344 and 200 SMA @ 20.2746.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 20.0224 |
| 1 | Daily SMA50 | 20.1560 |
| 2 | Daily SMA100 | 20.1344 |
| 3 | Daily SMA200 | 20.2746 |
The previous day high was 20.2655 while the previous day low was 19.9053. The daily 38.2% Fib levels comes at 20.1279, expected to provide support. Similarly, the daily 61.8% fib level is at 20.0429, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 19.9881, 19.7666, 19.6279
- Pivot resistance is noted at 20.3483, 20.487, 20.7085
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 20.2655 |
| Previous Daily Low | 19.9053 |
| Previous Weekly High | 20.2655 |
| Previous Weekly Low | 19.8402 |
| Previous Monthly High | 20.8261 |
| Previous Monthly Low | 19.8019 |
| Daily Fibonacci 38.2% | 20.1279 |
| Daily Fibonacci 61.8% | 20.0429 |
| Daily Pivot Point S1 | 19.9881 |
| Daily Pivot Point S2 | 19.7666 |
| Daily Pivot Point S3 | 19.6279 |
| Daily Pivot Point R1 | 20.3483 |
| Daily Pivot Point R2 | 20.4870 |
| Daily Pivot Point R3 | 20.7085 |
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