#USDMXN @ 19.1339 Broad based decline of the US Dollar triggers volatility across financial markets. (Pivot Orderbook analysis)
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- Broad based decline of the US Dollar triggers volatility across financial markets.
- USD/MXN gives up Wednesday’s rally showing Mexican Peso still in command.
- Another test of 19.00/05 should not be ruled out.
The pair currently trades last at 19.1339.
The previous day high was 19.4594 while the previous day low was 19.1943. The daily 38.2% Fib levels comes at 19.3581, expected to provide resistance. Similarly, the daily 61.8% fib level is at 19.2956, expected to provide resistance.
The USD/MXN is falling sharply on Thursday, after a wild Wednesday. Yesterday, the pair jumped, rising not only above 19.30 but also to 19.46. It respected a downtrend line and resume the downside, amid a broad slide of the US Dollar.
On Wednesday, USD/MXN peaked at 19.46, trading momentarily above the 20-day Simple Moving Average. The upside was capped by a downtrend line and closed the day below 19.30: a sign that the Greenback is not ready yet for a sustainable rebound.
All the positive developments for the Dollar, have been reversed during the last 24 hours. The bearish trend and momentum have been reaffirmed. While under 19.30, the Mexican Peso could likely test again the 19.00/05 psychological area. A break lower would target 18.85.
Technical Levels: Supports and Resistances
USDMXN currently trading at 19.1642 at the time of writing. Pair opened at 19.2902 and is trading with a change of -0.65 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 19.1642 |
| 1 | Today Daily Change | -0.1260 |
| 2 | Today Daily Change % | -0.6500 |
| 3 | Today daily open | 19.2902 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 19.4175, 50 SMA 19.775, 100 SMA @ 19.9774 and 200 SMA @ 20.0934.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 19.4175 |
| 1 | Daily SMA50 | 19.7750 |
| 2 | Daily SMA100 | 19.9774 |
| 3 | Daily SMA200 | 20.0934 |
The previous day high was 19.4594 while the previous day low was 19.1943. The daily 38.2% Fib levels comes at 19.3581, expected to provide resistance. Similarly, the daily 61.8% fib level is at 19.2956, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 19.1699, 19.0496, 18.9049
- Pivot resistance is noted at 19.4349, 19.5796, 19.6999
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 19.4594 |
| Previous Daily Low | 19.1943 |
| Previous Weekly High | 19.5924 |
| Previous Weekly Low | 19.3054 |
| Previous Monthly High | 19.8281 |
| Previous Monthly Low | 19.0402 |
| Daily Fibonacci 38.2% | 19.3581 |
| Daily Fibonacci 61.8% | 19.2956 |
| Daily Pivot Point S1 | 19.1699 |
| Daily Pivot Point S2 | 19.0496 |
| Daily Pivot Point S3 | 18.9049 |
| Daily Pivot Point R1 | 19.4349 |
| Daily Pivot Point R2 | 19.5796 |
| Daily Pivot Point R3 | 19.6999 |
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