Free Trial

USDMXN Testing March 19 Resistance Level

MEXICO
  • Ongoing upward pressure on US yields continues to underpin the dollar and add pressure to emerging market currencies.
  • The medium-term trend direction in USDMXN remains bearish, however near-term, a corrective cycle remains in play. The pair has traded through both the 20- and 50-day EMAs, strengthening a short-term bullish theme. The next resistance to watch is 16.9473, the Mar 19 high.
  • A break of this hurdle would open the 17.00 handle and the late February highs around 17.15. Initial support is at 16.5418, yesterday’s low.

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.