#USDMXN @ 20.1501 -imp levels: rises for the third consecutive day, again above 20.00.
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- USD/MXN rises for the third consecutive day, again above 20.00.
- The dollar needs to hold above 20.00, next resistance at 20.15/20.
- Slide under 19.90 to remove bullish bias.
The pair currently trades last at 20.1501.
The previous day high was 20.0921 while the previous day low was 19.8189. The daily 38.2% Fib levels comes at 19.9878, expected to provide support. Similarly, the daily 61.8% fib level is at 19.9233, expected to provide support.
The USD/MXN is rising for the third consecutive day, although so far, it has failed to print fresh weekly highs. The upside remains capped below 20.10. The next critical resistance is seen around 20.15/20, an area that contains horizontal resistances and also the 100-day Simple Moving Average.
A firm break above 20.25 would open the doors to more gains targeting the 20.50 area.
In the very short term, the bias is to the upside, with technical indicators flat to bullish. The momentum is not strong enough and appears to be fading. The bias will weaken with a decline back under 20.00. While a daily close well above 20.00 would be a positive sign for the bulls.
A key support emerges at 19.90 that if fails to hold, USD/MXN could drop further to test again the 19.80 area.
Technical Levels: Supports and Resistances
USDMXN currently trading at 20.0397 at the time of writing. Pair opened at 19.9768 and is trading with a change of 0.31 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 20.0397 |
| 1 | Today Daily Change | 0.0629 |
| 2 | Today Daily Change % | 0.3100 |
| 3 | Today daily open | 19.9768 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 20.2785, 50 SMA 20.3164, 100 SMA @ 20.154 and 200 SMA @ 20.4165.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 20.2785 |
| 1 | Daily SMA50 | 20.3164 |
| 2 | Daily SMA100 | 20.1540 |
| 3 | Daily SMA200 | 20.4165 |
The previous day high was 20.0921 while the previous day low was 19.8189. The daily 38.2% Fib levels comes at 19.9878, expected to provide support. Similarly, the daily 61.8% fib level is at 19.9233, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 19.8331, 19.6894, 19.5599
- Pivot resistance is noted at 20.1063, 20.2358, 20.3795
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 20.0921 |
| Previous Daily Low | 19.8189 |
| Previous Weekly High | 20.4435 |
| Previous Weekly Low | 19.8104 |
| Previous Monthly High | 21.0539 |
| Previous Monthly Low | 20.0921 |
| Daily Fibonacci 38.2% | 19.9878 |
| Daily Fibonacci 61.8% | 19.9233 |
| Daily Pivot Point S1 | 19.8331 |
| Daily Pivot Point S2 | 19.6894 |
| Daily Pivot Point S3 | 19.5599 |
| Daily Pivot Point R1 | 20.1063 |
| Daily Pivot Point R2 | 20.2358 |
| Daily Pivot Point R3 | 20.3795 |
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