USD/MXN respects support zone

Note: This section contains information in English only.
Source: Dukascopy Bank SA


In the aftermath of the July 29 review, the USD/MXN pair bounced off the 20.80 level and declined to the 2021 and early 2022 low level zone at 19.60/19.80, which has acted as support. Note that the rate had fluctuated below this zone in May. During the second part of August, the pair has been moving between the support zone and the resistance of the 50 and 200-day simple moving averages near 20.30.

In the case of the pair reaching above the daily moving averages, the rate could once again test the high level zone at 20.80/21.05. Higher above, note the 2022 high levels near 21.40.

On the other hand, a decline of the US Dollar against the Mexican Peso below the 19.60 level might find support in the May low level at 19.42. Below these levels, take into account the 19.00 mark and the 2022 low levels near 18.60.
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