USD/MXN Technical Analysis: Getting ready for a test of 20.00
- The USD/MXN reached last week at 20.65, the highest level since June and then lost strength and started a bearish correction.
- On Friday, the pair posted the first daily close in more than a month below the 20-day moving average. The line began to flatten and to turn to the downside, offering a positive signal for MXN. Currently stands at 20.36 and a close significantly above would point to further consolidating or renewed strength for the dollar.
- Technical indicators favor an extension of the correction. The next critical level to the downside is the 20.00/05 area. A test could be seen and it is likely to cap the slide initially. A close below would add more strength to the correction, with a potential target at 19.70.
USD/MXN Daily Chart
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USD/MXN
Overview:
Today Last Price: 20.2025
Today Daily change %: -0.445%
Today Daily Open: 20.2929
Trends:
Previous Daily SMA20: 20.3641
Previous Daily SMA50: 19.8184
Previous Daily SMA100: 19.3516
Previous Daily SMA200: 19.2766
Levels:
Previous Daily High: 20.3988
Previous Daily Low: 20.2019
Previous Weekly High: 20.658
Previous Weekly Low: 20.0079
Previous Monthly High: 20.6355
Previous Monthly Low: 19.576
Previous Daily Fibonacci 38.2%: 20.3236
Previous Daily Fibonacci 61.8%: 20.2772
Previous Daily Pivot Point S1: 20.1969
Previous Daily Pivot Point S2: 20.101
Previous Daily Pivot Point S3: 20
Previous Daily Pivot Point R1: 20.3939
Previous Daily Pivot Point R2: 20.4948
Previous Daily Pivot Point R3: 20.5908