USD/MXN remains above 19.80

Source: Dukascopy Bank SA


Despite making an attempt to surge in late September, the USD/MXN currency pair has remained between the support range of the 2021 and 2022 low levels at 19.60/19.80 and resistance of the 50 and 200-day simple moving average. By the end of October, the pair traded between the support zone and the 50-day SMA near 20.05.

A move above the 50-day SMA could encounter resistance in the 200-day SMA and the 20.20 level, before approaching the September high level near 20.60. Higher above, note the 20.80 level and the 21.00 mark.

On the other hand, a decline of the pair would need to reach below the 2021 and 2022 low level zone, before testing the May low level at 19.40.
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