USD/MXN Price Analysis: Bullish momentum eases after finding resistance below 23.00
|- USD/MXN continues to move sideways around 22.50, without clear direction.
- Mexican President AMLO is at the White House with US President Trump.
On Tuesday, USD/MX rallied to 22.90 that capped the upside. The mentioned level continues to be a critical level that if broken should lead to more gains, targeting 23.10.
Technical indicators are mixed with RSI turning south but price still above key moving averages in the 4-hour chart. Overall, USD/MXN continues to move sideways unable to move away from 22.50. The 55-day moving average at 23.00 is another critical area.
On the flip side 22.60 is the strong immediante support and a slide below would suggest more strength for the Mexican peso. If the decline continues 22.10/20 should offer support, favoring a rebound back to 22.50.
USD/MXN 4-hour chart
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