Free Trial

Peso Continues To Trade With Downward Bias, MXNJPY Falls 1.85%

MXN
  • USDMXN (+0.91%) remains firm and has briefly made a new marginal high for the week at 19.1792.
  • The pair rallied sharply higher Monday extending the recovery that started last week and price is trading at its recent highs. The 20- and 50-day EMAs have been cleared and 19.00 has been breached.
  • The next key short-term resistance is at 19.2906, the Feb 6 high. A break would pave the way for strength towards the 19.50 handle and 19.5882, the Dec 30 high. 18.4707, the 20-day EMA, is the first support to watch.
  • Additionally, broad pressure on the Peso is most notable against the Japanese yen with MXNJPY (-1.84%) falling to weekly lows below 6.90 and will focus next on the February lows at 6.8464.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.